Overview website for Myanmar
The World Bank has fully reengaged with the Government to support reforms that will benefit all of the people of Myanmar, including the poor …
Myanmar Overview. myanmar_coa_2008. Formally known Burma, Myanmar is the second largest country in Southeast Asia and neighbouring with India, China, …
Myanmar is one of Southeast Asia’s largest nations, with a population of more than 52 million people. With 135 different ethnic groups calling Myanmar home, …
Information on Myanmar to help do business under the AANZFTA.
Overview. Myanmar embarked on a path of political and economic reforms in 2011, paving the way for developing the country’s large potential. According to a …
Myanmar is a country rich in natural resources such as gas, gems, and possibly oil. Natural gas exports to neighboring countries are already providing a significant revenue stream. However, decades of poor economic management with a heavily controlled economy has resulted in a weak private sector and under-developed financial sector, misallocation of public resources with relatively small public spending on basic services, and economic isolation from Europe, the U.S., and an economy highly dependent on China and, to a lesser degree, other Asian trading partners.
Myanmar remains a primarily agricultural economy with the main share of its GDP derived from agriculture, livestock and fisheries, and forestry, although exports of gas and other natural resources are becoming increasingly significant. Once the top exporter of rice in the world, Myanmar’s rice exports now account for a negligible share of the world market. Manufacturing constitutes a small share of recorded economic activity, and state industries continue to play a large role in that sector.
Myanmar became a member of the International Bank for Development and Reconstruction in 1952, the International Financial Corporation in 1956, and the International Development Association in 1962.
The Bank’s first project in Myanmar was approved in May 1956. The Railway Project helped support the government with the rehabilitation and modernization of the railway (damaged during World War II) and inland water transport sectors. It also helped the Burma Railway Company to acquire diesel locomotives.
There have been a total of 35 projects in Myanmar, however, the Bank has approved no new lending since 1987. In 1998, the government went into arrears to the World Bank but has remained a member, attending its Annual Meetings.
In the period since 1987, the Bank has supported only one project in Myanmar. The Avian Influenza Support project financed by the Avian and Human Influenza European Union trust fund and implemented through Food and Agriculture Organization was closed in 2011.
In the aftermath of the Cyclone Nargis, which struck Myanmar in May 2008, the World Bank provided technical assistance for a post-disaster needs assessment. Reports that came out of this were the Post-Nargis Joint Assessment (PONJA) (pdf), Post-Nargis Social Impact Monitoring: November 2008 (pdf), Post-Nargis Social Impact Monitoring: May 2009, and Post-Nargis Social Impact Monitoring: April 2010.
The Bank continued to track data and remained in contact with the U.N. and other development partners regarding Myanmar. Bank staff continued to participate in the International Monetary Fund-led annual Article IV missions, including a mission in January 2012.
Comparable country data for Myanmar can’t be provided at this time. The World Bank and other agencies are re-engaging with the government of Myanmar and will support Myanmar in its effort to address the scarcity of reliable data for the country.
Formally known Burma, Myanmar is the second largest country in Southeast Asia and neighbouring with India, China, Thailand, Bangladesh, and Laos. Moreover, Andaman Sea and Bay of Bengal is situated on the west and south west of the country. Myanmar is resource rich country and it stand as a second largest gas exporter in the region. In November 2005, the administrative capital of Myanmar was officially moved to Naypyitaw from Yangon (Rangoon) which is 320 km north of previous capital. New government of Myanmar lead by President Thein Sein took office on March 2011.