World Bank backs power generation as key to Myanmar development

• 11 years ago (2013-02-06)
• David Flin

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Axel van Trotsenburg, the East Asia and Pacific Vice President of the World Bank, has said that improving electricity supply is a key development priority requiring public and private investment. He said: “Turning on the lights in Myanmar will enable children to read at night, and encourage villagers to start new businesses which will lead to growth and jobs. Sufficient, reliable and affordable electricity will help to relieve poverty in rural areas and create opportunities for all.” He said that only 25 per cent of the population currently has access to reliable supply of electricity.

According to the World Bank, Myanmar’s economy grew at 5.5 per cent in 2011-12. The country is expected to reach 6.3 per cent growth in fiscal 2012-13. The World Bank is providing $165 million in zero-interest loans for priority needs, in addition to a $80 million grant for community-driven development.