IFC, Australia Back Nationwide Study on Myanmar’s Hydropower

AS MYANMAR needs more electricity to realise its development goals during the first civilian government’s term, two ministries have been holding a series of discussions until the third week of January to finalise the countrywide strategic environmental assessment (SEA) on hydropower potential by March. The series of discussions started with a stakeholder meeting in Myitkyina, […]

Yangon to Build $400 Million Elevated Expressway

The Ministry of Construction and International Finance Corporation (IFC) on January 11 signed an advisory services agreement to build an elevated expressway connecting Yangon port, Thilawa SEZ, Yangon International Airport, Yangon Industrial Zone and Yangon-Mandalay expressway. The 20.5-kilometre elevated expressway will cost US$400 million (535.86 billion kyat), with maintenance costs to be paid for by […]

Why Myanmar’s government needs to do more to maintain economic growth

Myanmar’s economy is growing. In particular, the manufacturing and retail sectors are booming. However, the government must address significant challenges to maximise Myanmar’s growth potential. The manufacturing industry grew dramatically The government set bold industralisation targets. It wanted to promote manufacturing exports and lessen the country’s reliance on oil and gas. Industry, including manufacturing, contributed […]

IFC, Myanmar Introduce ag Guidelines and Protocol

YANGON, MYANMAR — The International Finance Corp. (IFC) has partnered with the Department of Agriculture of Myanmar’s Ministry of Agriculture, Livestock and Irrigation (MoALI) to introduce guidelines geared toward improving the productivity and profitability of farmers through sustainable farming. The Good Agricultural Practices (GAP) Protocol and Guidelines specifically cover 15 crops, including rice and peanuts. […]

Myanmar tackles food safety in bid to boost agricultural exports

MYANMAR plans to improve food safety in a bid to boost agricultural exports and extract more value from a sector that accounts for 38 per cent of the country’s gross domestic product. Ye Tint Tun, director general of the Department of Agriculture, said exports of agricultural products made up 23 per cent of Myanmar’s export […]

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 […]

IFC injects $13.5 million into local microfinance institutions

The International Finance Corporation, (IFC), a member of the World Bank Group, has provided a financing package of $13.5 million to various microfinance institutions in Myanmar to support the country’s critical credit demands. The institution has decided to take a $1.5 million stake in Maha Agriculture Public Company (Maha MFI) and extend $6 million in […]

IFC launches its sustainability guidelines in Myanmar language

Arm of world bank guides local companies on managing environmental, social risks The International Finance Corporation, a private sector arm of the World Bank Group, last week released a Burmese version of its Performance Standards on Environmental and Social Sustainability. The publication is a set of eight internationally recognised norms that guide companies and governments […]

IFC launches its sustainability guidelines in Myanmar language

The International Finance Corporation, a privatesector arm of the World Bank Group, last week released a Burmeselanguage verฌsion of its Performance Standards on Environmental and Social Sustainability. The publication is a set of eight internationally recognised norms that guide companies and governฌments on identifying and managing environmental and social risks to achieve sustainability. Bernard Sheahan, […]

A company of my own’: the rise of Myanmar’s tech pioneers

“It’s always been my ultimate goal to have a company of my own,” says Htun Khaing Lynn, or Zack, as he prefers to be called. Last September the 22-year-old engineering graduate from Myanmar’s eastern Shan state co-founded online truck-pooling service Kargo, which connects individuals and businesses who need to move goods around congested Yangon. Cars […]