World Bank to Give $85 Million Grant to Burma
1 August 2012
The Word Bank Group announced on Wednesday that it will provide US $85 million in grants to assist people in Burma through community-based initiatives. In a statement, the bank said that target communities would be allowed to decide for themselves how the money should be spent. The grants are aimed at promoting further reform, the statement said. This is the first direct financial aid that the bank has given to Burma in decades, although it has recently begun to provide the country’s government technical assistance in acknowledgment of reforms that started last year.