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Burma to Get Financial Backing to Boost Power Grid

3 January 2014

The Washington, D.C.-based International Finance Corporation (IFC), a member of the World Bank Group, will cooperate with Burma’s government to help boost the country’s electricity-generating capacity, reports Eleven Media. “We are going to work with the government to implement major hydro power projects so that all Myanmar people will soon enjoy full electricity,” said IFC Vice-President and CEO Jin-Yong Cai, according to the report. No details were given of the proposed plan, but during a visit to Burma last February, Cai said the IFC was working with the Burmese government “to establish a strategy that will promote investment in the power industry.”