Neighboring Countries of MyanmarThe Neighbouring Countries of Myanmar
Rising Myanmar wants to overtake its neighbours
Marlar's wish is a reflection of the developing conviction that a better tomorrow is possible in Myanmar. In 2011, a surge of policy and macroeconomic reform began to transform Myanmar and usher in a shift from fighting to peaceful rule, from militarily rule to democratisation and from a cohesive to an open one.
"Increasing the accessibility of electricity in a land like Myanmar can help change societies - kids can go to school at nights, businesses will remain open, and healthcare hospitals will have the light and resources to operate life-saving technologies. On his first trip to the state on January 26, Kim said: "Electricity is helping to put an end to suffering.
Myanmar, also known as Burma, is one of the impoverished nations in East Asia. Approximately 70% of Myanmar's total populace - about 40 million inhabitants - live outside the power supply system. Power failures, power failures and rationings are usual for those who have them. Very small percentages of GNP have been allocated to training and healthcare, and about 32% of the under 5s are malnourished.
It ranks 182 out of 189 in terms of its lightness of operation. Myanmar is trying to change things. This year, the economy is set to expand by 6.8%. It combines financing from its International Development Association funds for the world' s impoverished nations with an effort to boost the retail industry and promote investments through policy-making.
It will allocate $200 million to help Myanmar reach comprehensive healthcare by 2030. These funds will improve accessibility to basic healthcare facilities for womens and childrens and help to eliminate bagged cash as an obstacle to healthcare for the very poor. A further $80 million in subsidies is already supporting local community investment in the countryside, education, roads, rivers and other infrastructure.
$31. 5 million to extend accessibility to telecommunication in the countryside; $30 million to assist the modernisation of the country's federal finance administration system; and $60 million to extend a federal programme that provides allowances to colleges and impoverished students. 12 million dollars to finance the modernisation of the country's governmental system. In order to improve accessibility to electricity, the bank is funding a $140 million modernisation and expansion of a Mon State generating facility.
In the longer run, a nationwide elecrification policy supported by the initiative "Sustainable Energies for All" will lead to the provision of dependable, accessible and viable electrical utilities to the populations of around 60 million people. It is unlikely that in the countryside, the policy will involve a mixture of grid-connected and off-grid energies and renewable energies such as windpower, says Shankar.
The IFC, the banking group's privately-owned branch, has committed $2 million in microcredit to support some 200,000 small and microenterprises, most of which are run by womens, and is assisting three other organisations in building the capacities for such lending. It is part of general efforts to promote enterprise and encourage consumer investments for the sustainable development of core industries such as telecommunications and renewable energies, which could help bridge the gender pay-hole.
The IFC advises the Ministry of Electricity in Myanmar on cooperation with the residential electricity generation and distribution sectors with the aim of establishing a fundamental agreement setting regime. The recent telecoms regulation reforms make it easier for telecoms regulators to invest in the area. In the next five years, Myanmar has a "huge opportunity" to draw lessons from the experiences of other nations to build a truly integrated bank that would significantly improve financial accessibility, says Kumar.
From December 2013, cautious gamblers, whose funding is urgently needed for the development of the retail banking industry and economic reforms, will be able to obtain cover against policy risks from the Group's Multilateral Investment Guarantee Agency. "Myanmar's citizens are very much looking forward to the performance bonus, and meeting these goals will be the government's chance and challenge," says Shankar.