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ADB Plans Return to Burma

3 May 2012

The Asian Development Bank (ADB) expects to resume its operations in Burma “sooner rather than later,” according to the bank’s managing director-general, Rajat Nag. In an interview with Bloomberg News, Rag said returning to Burma is “very likely and very desirable,” and added that the US $490 million in arrears the country owes to the Manila-based bank is “not an insurmountable issue.” Nag said there was no reason not to trust the new nominally civilian government, since it has made “fairly far-reaching fundamental reforms” which should lead to a lifting of sanctions.