YANGON - Asian Development Bank President Takehiko Nakao will visit Myanmar on June 13-15, to strengthen future cooperation in core sectors such as infrastructure, energy and power, transportation, and telecommunications.
During his three-day visit, Nakao is scheduled to meet with President Htin Kyaw, State Counsellor and Foreign Minister Aung San Suu Kyi, and Planning and Finance Minister and chairman of the Myanmar Investment Commission Kyaw Win.
This marks Nakao’s first visit to Myanmar since taking office in April 2013.
Soe Tun, vice president of Myanmar Rice Federation and president of Myanmar Automobile Manufacture and Distributors Association, warmly welcomed Nakao’s visit. He said that Myanmar needs more long-term, low-interest loans from development lenders such as the World Bank and ADB. He has high hopes that Nakao’s visit will help Myanmar implement a large number of much-needed infrastructure projects like electricity and road connectivity.
ADB has actively been involved in a number of development projects to facilitate Myanmar's economic and social transition since 2012, with loans and grants amounting to US$991.5 million from 2013 to 2015.
In its Asian Development Outlook 2016, Myanmar is set to lead all Asean nations in terms of growth rate in 2016 and 2017 fiscal years, with growth forecasts of 8.4 and 8.3 per cent, respectively. This follows the 7.2 per cent rate in the 2015 fiscal year.