The World Bank has pledged $2bn (£1.2bn) in development aid to Burma for projects including energy supply and healthcare.
Bank president Jim Yong Kim announced the aid during his first visit there.
Burma, also known as Myanmar, has been closed to much of the outside world for many years and is struggling to rebuild its economy.
The bank ceased lending to Burma almost three decades ago when the ruling military junta defaulted on repayments.
Some 70% of the population do not have access to reliable electricity, and improving power supplies is key to the country's development, Mr Kim said.
"We are increasing our support for the huge reform effort under way in Myanmar because we want to help the government bring benefits to poor people even more quickly," Mr Kim said.
"Expanding access to electricity in a country like Myanmar can help transform a society. Children will be able to study at night, shops will stay open, and health clinics will have lights and energy to power life-saving technology. Electricity helps brings an end to poverty."
The Washington-based bank closed its office in the main city of Rangoon (also known as Yangon) in 1987 and ceased new lending after the junta stopped making payments on debts worth hundreds of millions of dollars.
Source: BBC
http://www.information.myanmaronlinecentre.com/world-bank-pledges-2bn-for-burma-2/
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