The World Bank's Vice President for East Asia and Pacific, Axel van Trotsenburg, today reaffirmed the World Bank Group's continued strong partnership with Myanmar in its pursuit of ending extreme poverty and promoting growth that will benefit more people in Myanmar. Three weeks after the swearing in of Myanmar's new parliament, van Trotsenburg met National League for Democracy (NLD) leaders and senior government officials in Nay Pyi Taw and congratulated the country on the historic transition.

Van Trotsenburg met with the Chairperson of the NLD Daw Aung San Suu Kyi, Union Minister for Ministry of Finance His Excellency (H.E.) U Win Shein, and Speaker of the Pyithu Hluttaw H.E. U Win Myint to discuss the World Bank Group's current and future support to Myanmar. Van Trotsenburg expressed the World Bank Group's gratitude for the partnership with Myanmar.

"Myanmar's historic transformation over the last couple of years has delivered significant economic gains," said van Trotsenburg. "Between 2011 and 2014, Myanmar's economy grew at an average rate of 7 percent per year, which is among the fastest in East Asia. The country now has the opportunity to advance reforms further so growth will benefit more people across geographical areas, ethnic communities and income groups in Myanmar. The World Bank Group will continue to support the people of Myanmar in providing long-term solutions to end extreme poverty and promote shared prosperity."

In their discussions, van Trotsenburg and the Myanmar officials focused on economic policy priorities for Myanmar for closing the gap in access to basic services; reducing rural poverty and raising agriculture productivity; promoting a competitive business environment; enhancing financial inclusion; expanding access to energy; and strengthening public sector governance. Many of these policies are discussed in the World Bank Group series of policy notes for Myanmar which will be published and disseminated widely from February 23.

In 2015, the World Bank Group prepared its first Country Partnership Framework (CPF) for Myanmar for 2015 to 2017. The Framework outlines how the global knowledge, financing, and convening services of the World Bank Group can support Myanmar and its people in transforming their country, ending extreme poverty and boosting shared prosperity.

Source: The World Bank