ADB expresses concern over new developments in Myanmar

Diplomatic Correspondent

11th March, 2021 09:41:22 printer

ADB expresses concern over new developments in Myanmar

The Asian Development Bank (ADB) remains deeply concerned about recent developments in Myanmar, especially the loss of life during civil protests.

These events will have a serious impact on the country’s economic and social development, according to a release of ADB received from its headquarters in Manila.

As the international community assesses the evolving situation, ADB has placed a temporary hold on sovereign project disbursements and new contracts in Myanmar effective 1 February 2021, consistent with its internal guidelines.

“We will continue to consult with shareholders and other stakeholders.”

ADB is a key development partner to Myanmar, and we will continue to monitor the situation, including the impact of the coronavirus disease (COVID-19) pandemic.