World Bank partner looks at projects in Myanmar’s energy, telecommunications, banking sectors

MIGA head Keiko Honda seen together with Union Minister for Finance U Win Shein during her three-day visit to Myanmar to underscore MIGA’s commitment to helping the agency’s newest member achieve its growth  potential. —Photo Provided
MIGA head Keiko Honda seen together with Union Minister for Finance U Win Shein during her three-day visit to Myanmar to underscore MIGA’s commitment to helping the agency’s newest member achieve its growth potential. —Photo Provided

Yangon, 25 Nov—The Multilateral Investment Guarantee Agency, a member of the World Bank Group, is looking at projects in the energy, telecommunications, and banking sectors in Myanmar, Keiko Honda, executive vice president and CEO of the agency, told the Global New Light of Myanmar via e-mail.
Ms. Honda said in her reply to questions the GNLM submitted that the agency is also poised to insure investment that supports small and medium-sized enterprises that provide financing to women.
“The expected number of jobs created for women is one of the indicators
that the MIGA tracks in all of the projects it insures,” said the MIGA chief, who visited Myanmar last month for the first time.
“Myanmar moves carefully forwards in its historic transformation,” Ms. Honda said, recounting discussions she had with the government and parliamentarians about the country’s development priorities during her visit.
Myanmar became the 180th member of MIGA, the political risk insurance and credit enhancement arm of the World Bank Group, in December last year.
Ms. Honda and government officials agreed that the active participation of the international private sector is crucial to achieving many of the country’s development goals, especially as they relate to building up infrastructure, according to MIGA.
It added that the MIGA chief held talks with Union Minister for Finance U Win Shein during her visit to the World Bank partner’s newest member. During the talks, she noted that MIGA is already in conversations with banks and investors that are considering important projects in the country, and underlined that MIGA’s support for Myanmar can help the country achieve better lending terms.
MIGA is a member of the World Bank Group, promoting foreign direct investment into developing countries to help support economic growth, reduce poverty, and improve people’s lives.—GNLM

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