The World Bank, Feb 5 2013:
Yangon, Myanmar, February 5, 2013—The World Bank Group and Myanmar reinforced their commitment to grow the economy, create jobs and reduce poverty through accelerated reforms and a focus on energy infrastructure development during a three-day visit by a high-level delegation led by IFC Executive Vice President and CEO Jin-Yong Cai. Mr. Cai was joined by World Bank East Asia and the Pacific Vice President Axel van Trotsenburg, IFC Asia Pacific Vice President Karin Finkelston, and MIGA Vice President Michel Wormser. The delegation agreed to support Myanmar in meeting its urgent need for electric power and in improving the telecommunications and banking sectors.
“Connecting people and businesses to a reliable electricity grid is critical for Myanmar to realize its enormous social and economic potential,” said IFC Executive Vice President and CEO Jin-Yong Cai. “IFC is working with the government to establish a strategy that will promote investment in the power industry, and help deliver electricity in a reliable and sustainable way to all citizens.”