World Bank to Open Myanmar Office in June

The World Bank will open an office in Myanmar in June, a bank official said.

"In early June, we will be opening an office in Myanmar, which will be led by a new country manager," said Pamela Cox, World Bank vice president for East Asia and Pacific Region.

Cox said she will travel to Myanmar to gain a firsthand assessment of the situation.

"Our primary goal is to help the people of Myanmar," Cox said. "This is a country which has been closed to the outside world for decades — so we're now preparing a strategy to guide our work with the government to improve services for the people — and assist in tackling the country's development challenges."

Before the Bank launches its program in Myanmar, the unpaid debts of the country should be cleared, which include $393 million to the World Bank, about $500 million to the Asian Development Bank, said Cox.