Aid and development
Multilateral development assistance
ADB sells $1.3 billion in global green bonds to spur climate financing
The Asian Development Bank has raised $1.3 billion to help finance climate change mitigation and adaptation projects with the issue of dual-tranche 3-year and 10-year green bonds, following its inaugural green bond issue in 2015. Last year, ADB announced that it will double its annual climate ...
World Bank staff point to 'leadership crisis' at global lender
Staff at the World Bank delivered a broadside against its sitting president this week, saying the global lender faced a “crisis of leadership” and risked irrelevance on the world stage. The rebuke, made in an open letter from the Bank’s staff association, came as informal talks ...
World Bank loan will not be used for govt salary increases, says president’s office spokesperson
Government employees’ salaries will not increase despite plans to take out a loan worth US$100 million from the World Bank, aimed at covering a state deficit by separating salaries from the budget, according to government officials. Myanmar’s President Htin Kyaw sent a message on August 5 ...
Myanmar needs to scale up transport investment: ADB
The Myanmar needs to invest US$45 billion to $60 billion in transport projects over the next 15 years, to improve connectivity with neighbours and ensure equitable distribution of economic growth, Asian Development Bank officials have said. “Every year, Myanmar will need about $4 billion. This ...
China denies political conditions on aid to Cambodia
China said on 22 July its financial assistance to Cambodia is in no way dependent on that country’s support on diplomatic and political issues, such as Beijing’s dispute with other Southeast Asian countries in the South China Sea. A Foreign Ministry statement faxed to The Associated Press ...
World Bank approves loan to poverty reduction fund
On 13 July, the Ministry of Finance signed a US$30 million agreement with the World Bank aimed at continuing to finance Laos’ Poverty Reduction Fund, improving livelihoods and upgrading infrastructure for residents of 150 rural villages in over 40 districts of 10 target provinces. The funding will ...
More Montagnard asylum seekers return to Vietnam
On 12 July, 16 Montagnards – an ethnic mountain minority who are predominantly Christian – were sent back to Vietnam through Ratanakkiri province after most had their applications for refugee status rejected, and all volunteered to go back to their homeland, government officials said on 13 ...
Nearly 4,000 bridges to be built in remote areas
The second phase of a bridge building programme, which aims at building nearly 4,000 bridges in remote areas, will be kicked off next month, said Nguyen Van Huyen, director of the Directorate for Roads of Viet Nam. Under the programme, a total of 3,959 bridges, including ...
Observers urge Govt to create new export markets, boost trade volume
A recent World Bank report says that trade growth in Myanmar could reduce poverty and boost prosperity, but local observers say in order for that to happen the government must implement economic policies that increase export markets. The Myanmar Diagnostic Trade Integration Study released last week by the ...
Cambodia’s solar sector set for bright future
The Kingdom’s ability to produce renewable energy boosted with $30m funding from Climate Investments Funds. With almost half the population of Cambodia without access to electricity, the announcement today of $30m in funding for renewable energy projects should come as welcome news. The $8.1-billion Climate Investments Funds, ...
