Myanmar State Counselor Ms. Aung San Suu Kyi met with ADB President Mr. Takehiko Nakao on June 23rd 2019 on the sidelines of the Association of Southeast Asian Nations (ASEAN) Leaders’ Summit. They discussed ADB’s continued engagement with Myanmar.
Mr.
Nakao said he appreciated the structural reforms being implemented by the
government, such as the adoption of the new Companies Law and easing business
registration—both supported by ADB—as well as the reforms in the banking and
insurance sectors. These steps will send positive signals to domestic and
foreign investors.
ADB has
been supporting Myanmar
since its reengagement in 2012, operating in the energy, transport, water
supply and sanitation, agriculture, and education sectors. ADB’s sovereign
lending in 2018 was USD614 million. In addition, ADB is supporting private
sector development through its nonsovereign lending in areas such as energy and
communications.
Ms. Suu
Kyi expressed appreciation for ADB’s support. She noted that improved
infrastructure not only improves access and connects regions, but also helps
achieve reconciliation between different groups of people. She further noted that
achieving peace and stability requires a long-term focus on sustainable
development. "ADB stands ready to support Myanmar
as it takes steps toward conflict resolution and reconciliation, including in Rakhine State,” Mr. Nakao said.
Ms. Suu
Kyi and Mr. Nakao also discussed boosting productivity in the agriculture
sector to support rural development and poverty reduction; enhancing resilience
to climate change; and promoting connectivity and cooperation between South
Asia, Southeast Asia, and East Asia, taking advantage of Myanmar’s unique
geographic position./.
Source:
CPV
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