About three million pregnant women and children in Myanmar are
expected to benefit from improved health services, and six million
people will have better access to electricity and other basic services
in the next three years under the World Bank’s first full partnership
framework in 30 years.
The 2015-17 Country Partnership Framework (CPF) endorsed today by the
World Bank Group’s Board of Executive Directors will provide up to $1.6
billion in credits, loans and grants, as well as technical assistance
and knowledge from the International Development Association (IDA), the
Bank’s fund for the poorest countries.
Myanmar also will receive up to $1 billion in investments and $20
million in technical assistance from the International Finance
Corporation (IFC), the private sector arm of the World Bank Group.
Private lenders and investors in Myanmar will also benefit from
political risk insurance offered by the Bank’s Multilateral Investment
Guarantee Agency (MIGA).
“The new Country Partnership Framework for Myanmar is based on
priorities developed in close consultation and engagement with
stakeholders in Myanmar,” said Ulrich Zachau, World Bank Country Director for Myanmar. “The
Framework focuses on reducing rural poverty, providing basic services,
and stimulating the private sector in an inclusive manner, so that
especially the poor and vulnerable share in the benefits of reform. We
look forward to working in partnership with the government, investors
and civil society groups for the prosperity of the people of Myanmar.”
The CPF is the World Bank Group’s first full strategic framework for
Myanmar since 1984. The CPF comes during the country’s transition from
military rule to democratic governance, with its economy shifting from
state-directed to market-oriented.
“Myanmar’s priority is to advance development and cut poverty in our country,” said Union Minister for the Ministry of Finance, U Win Shein. “Financing
and innovative ideas from the World Bank Group can help create jobs,
end poverty by 2030 and build Myanmar through growth that reaches
everyone in Myanmar, especially the poorest people.”
The CPF seeks to help Myanmar’s development plans in three main areas:
First, it will help reduce poverty in rural areas where more than 75
percent of Myanmar’s poor live. The partnership strategy will focus on
increasing economic opportunities and access to basic services, reducing
vulnerabilities, and empowering poor rural communities to participate
in the economy and the governance of the country. In the next three
years, 3.5 million people will gain new or better access to electricity,
with an additional 2.5 million people benefiting from improved rural
infrastructure and access to public services.
Second, the CPF will help Myanmar improve the quality, access and
delivery of essential services for its people, including health care and
schools, and help the government achieve its announced goal of
universal healthcare access by 2030. In addition, 30,000 students will
receive stipends to stay in school.
Third, it will stimulate job creation in Myanmar by building a
dynamic private sector, with support to improve access to finance for
small businesses, telecommunications and information technology, modern
financial institutions, and the expansion of overseas trade for Myanmar
businesses. The World Bank Group’s support aims to increase the number
of people, micro-enterprises, and small and medium enterprises using
financial services by 200,000, and to facilitate financing of up to $40
million by 2017. World Bank Group support also aims to help the
government mobilize $150 million in private investment by creating a
business environment conducive to private sector investment.
The CPF draws on intensive and systematic engagement with the
government, the private sector and a broad range of civil society, which
has helped build mutual understanding and identify priority issues for
Myanmar. It builds on findings from the Bank Group’s recent Systematic
Country Diagnostic, extensive consultations with a wide range of
stakeholders, and lessons learned since the institution began
re-engagement in Myanmar in 2012.
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