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Myanmar Signs Loan Deal with the World Bank for a Financial Sector Development Project

A signing ceremony was held between Myanmar government officials and World Bank representatives for a loan agreement intended to assist in the development of Myanmar’s financial sector on April 11 in Naypyidaw.

The loan will go to the Myanmar Financial Development Project, jointly implemented by the World Bank and the Ministry of Planning and Finance of Myanmar. Under the agreement, Myanmar will be provided with a low-interest, long-term loan of $100 million by the World Bank. The World Bank’s country director Ulrich Zachau and Myanmar officials Nwet Nwet Win, director general at the Department of Treasury under the Ministry of Planning and Finance, and Than Than Swe, director general at the Central Bank of Myanmar, signed the relevant documents. Among the attendees of the ceremony were Deputy Minister for Planning and Finance Muag Maung Win, the World Bank’s country manager Abodoulaye Seck and vice-chairperson of the Central Bank of Myanmar Khin Saw Oo.

Senior-General Min Aung Hliang Leaves for Germany

Commander-in-Chief of the Tatmadaw Senior-General Min Aung Hliang and his wife left for Germany for a trip on the invitation of General Volker Wieker, Chief of Staff of the Federal Armed Forces of Germany on April 22. Lieutenant General Mya Tun Oo, Joint Chief of Staff of the Army, Navy and Air Force and high-ranking officials from the Office of the Commander-in-Chief of Defense Services (Army) were also in the delegation. On the way to Germany, Senior-General Min Aung Hliang and the delegation had planned to stop in Austria for a working visit.

Deputy Finance Minister Attends Financial Meetings in the Philippines

A Myanmar delegation led by Deputy Minister for Planning and Finance Maung Maung Win attended the 21st ASEAN Finance Ministers’ Meeting and other related events held from April 4 to April 7 in Cebu, the Philippines. The delegation took part in an event that marked the 50th anniversary of the establishment of ASEAN (Association of South East Asian Nations). They also attended the Joint-Meeting of ASEAN Deputy Ministers and Central Bank Deputy Chiefs and the 3rd Joint-Meeting of ASEAN Finance Ministers and Central Bank Governors.

Maung Maung Win was also present at the 12th Investment Forum of ASEAN Finance Ministers. He met with American delegation led by Alexander C. Feldman, chair of the U.S.-ASEAN Economic Council, on the sidelines of the meetings to exchange views on financial service matters in Myanmar.

National Security Adviser Thaung Tun Makes Official trip to Beijing

National Security Adviser Thaung Tun paid an official visit to China from April 17 to April 22 on the invitation of the Chinese government. Thaung Tun separately met with Chinese Foreign Minister Wang Yi, Minister for State Security Chen Wenqing and Vice Foreign Minister Liu Zhenmin in Beijing to talk on mutual relations, improvement of the bilateral cooperation at the State level in regional and international aspects, enhancement of government to government and people to people contacts, Chinese support and contributions to national reconciliation and peace process of Myanmar, the ‘One Belt, One Road’ plan proposed by China, border region stability and regional security issues.

The National Security Adviser also stopped in Kunming and met with the Communist Party Deputy Secretary of Yunnan province and professors, researchers and students from Yunnan University to discuss political and current security affairs.