IFC Approves Support for Controversial Tycoon’s Mandalay Cement Project

The World Bank’s private sector lending arm the International Finance Corporation (IFC) has given the go ahead to support a multi-million dollar plan to expand a cement factory in Mandalay Region, operated by the Shwe Taung Conglomerate. The firm’s chairman, Aik Htun, had been alleged by US authorities to have had ties to the drug […]

World Bank Arm Defends Mandalay Cement Factory Project Amid Civil Society Opposition

Following an open letter sent to the World Bank’s President Jim Kim by a coalition of community-based organizations opposing a proposed plan to support the expansion of a cement plant in Mandalay Region and the coal mine that fuels it, the International Finance Corporation (IFC) maintains that the project is worthwhile. The open letter was […]

Dawei SEZ finally gets green light in Tokyo

Thailand, Japan and Burma on Saturday effectively launched the US$50 billion Dawei special economic zone by signing an agreement in Tokyo that will have a deep impact on trade and investment in Southeast Asia. Thai Prime Minister Prayut Chan-o-cha and Japanese Prime Minister Shinzo Abe both said the signing of the tripartite pact will boost […]