The World Bank on Friday said it has approved the provision of a loan of $200 million to Myanmar for the recovery of areas hit by floods and landslides in 2015.
The World Bank will finance the country for road reconstruction, livelihood support and recovery of the agriculture sector as part of its Flood and Landslide Emergency Recovery Project (FLERP), Xinhua news agency reported.
Repairing and improving roads will help improve access to schools and clinics, and open markets for residents of the flood-hit areas, the World Bank Country Director for Southeast Asia, Ulrich Zachau said.
The floods and landslides that occurred between July and September in 2015 displaced over 1.6 million people and caused 132 fatalities across the country.
--IANS
ask/pgh/dg
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app