Myanmar: Open for Business? Corporate Crime and Abuses at Myanmar Copper Mine

This report focuses on the Monywa copper mine project and highlights forced evictions, substantial environmental and social impacts, and the repression, sometimes brutal, of those who try to protest. It also raises serious questions about opaque corporate dealings and possible infringements of economic sanctions on Myanmar.

New Lending Must Address Challenges on Burma’s Road to Development

On 11 October, Japan announced that it would be resuming loans to Burma. It also hinted that it will assist the heavily indebted country in clearing its arrears and establishing good financial standing with international financial institutions, such as the World Bank and the Asian Development Bank.

Japan will be forgiving US$3.7 billion or about 60% of the total $6 billion debt Burma owes; it is also planning to use bridge loans by Japanese banks to help clear Burma’s $900 million of arrears with the World Bank and the Asian Development Bank. Japanese Finance Minister Koriki Jojima stated, “Japan is planning to resume its full program in Myanmar with yen loans to help support Myanmar’s sustainable economic development…at the earliest possible timing next year.” He further explained that Japan’s development priorities in Burma would focus specifically in the areas of electricity and road rehabilitation, rural development and improvement of port facilities.

At this moment in time, Burma’s re-entry into the world economy, specifically the ability to take loans from institutions such as the World Bank, the Asian Development Bank and Japan itself, carries great risk. The type of projects to be funded, the rate of investment, the sectors in which investment will take place, the presence of monitoring mechanisms, and the decision-making process are just some of the factors that will determine the long-term outcome of international financial support […]

US Campaign for Burma Expresses its Disappointment over the US Congress and Administration’s Decision to Lift Remaining Sanctions on Burma

Today the U.S. Campaign for Burma (USCB) expresses its disappointment over the U.S. Congress and Administration’s decision to lift the remaining sanctions imposed on the Burmese military regime and its successor, so-called civilian government led by former General Thein Sein. Last week, the U.S. Congress fast-tracked the passing of legislation that authorizes the Administration to provide financial assistance and loans to Burma through the International Financial Institutions (IFIs) […]

The ADB in Burma: Behind the Scenes

This paper recommends that until the people of Burma can meaningfully participate in development decisions, preconditions for responsible investment are in place, and adverse impacts can be mitigated, then the ADB should refrain from any form of new engagement with Burma. If they do engage (i.e., fund, facilitate, administer) in Burma, the ADB must follow the International Financial Corporation’s “Sustainability Framework” and adhere to their own safeguard policies, including safeguards on Involuntary Resettlement, Environment and Indigenous People, as well as the ADB’s Accountability Mechanism and Public Communications Policy […]

Opportunities and Pitfalls: Preparing for Burma’s Economic Transition

The Burma Project/Southeast Initiative has published Opportunities and Pitfalls: Preparing for Burma’s Economic Transition, a report by Yuki Akimoto.

Opportunities and Pitfalls covers key topics addressed at the conference regarding Burma’s prospective economic transition and the role of IFIs. The report contains case studies of other countries that have dealt with IFIs and their prescriptions for development, highlighting issues and circumstances that Burma shares with those countries.

Forward-looking and accessible, this report promises to stir practical debate about how Burma should manage the challenges of working with IFIs when these institutions become fully engaged there […]

Multilateral Development Banks and Burma: A Resource Book from the Bank Information Center

Multilateral development banks, or MDBs, are a significant source of economic assistance for developing countries. MDBs lend tens of billions of dollars to low and middle income countries each year. In the Asia-Pacific region, the Asian Development Bank (ADB) loans $5 to 6 billion a year to its borrowing countries. If and when the MDBs decide to resume engagement with Burma, they could be a very large source of financial support for Burma’s development agenda.

Many of those in the movement to promote democracy in Burma have engaged in debates and discussions about whether or not economic assistance should be extended to the military regime. The Resource Book is meant to help expand this discussion to include the issue of multilateral assistance from MDBs […]