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Myanmar welcomes AIIB investment

CCTV.com

03-30-2015 15:08 BJT

Myanmar is one of the first countries to join the AIIB. And the regional China-backed bank comes just in time to help feed Myanmar's growing infrastructure appetite.

Experts say there are many projects in the country that hope for loans from the AIIB.

Myanmar is in urgent need of funding to expand its infrastructure facilities. The country's infrastructure construction has almost stagnated in the past decade and traffic jams are common.
 
"Overpass bridges are really important for Myanmar because roads are narrow and there are more and more cars. We need overpass bridges in every intersection to be convenient," said U Maung Bo, taxi driver.

Experts say poor transportation has delayed economic development.
 
Tampadipa Institue director Khin Zaw Win said, "I went to Shan State a few days before and noticed that their vegetables and fruit couldn't be transported out. That has brought huge losses to farmers."
 
Kin Zaw Win said that despite assistance from the World Bank and Asian Development Bank, funding is far from enough for major road projects.

"The road that links China Myanmar and Indian is in discussion right now, but still needs funding support from the Asian Infrastructure Investment Bank," he said.

A 2012 global survey of transportation and logistics by the World Bank puts Myanmar's infrastructure at 133rd out of 155 countries studied. However, the growth of Myanmar's infrastructure construction has picked up since 2011.

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