World Bank President Robert Zoellick speaks during the session "Does Arab Business Care" at the World Economic Forum (WEF) on the Middle East in Sharm el-Sheikh, Egypt, May 19, 2008. [Agencies](Agencies)
2008-05-20
SINGAPORE -- A top World Bank official says the bank won't give financial aid or loans to cyclone-hit Myanmar because of outstanding debts.
Managing Director Juan Jose Daboub says the World Bank is working with Southeast Asian countries by providing technical support to assess damages in Myanmar and to help them to plan rehabiliation efforts.
But he says the bank is "not in a position" to provide financial resources for Myanmar because the military-ruled nation has been in arrears with the World Bank since 1998.
His comments Tuesday came ahead of an aid donors conference in Yangon on Sunday to pledge funds for Myanmar, which has estimated that losses from the recent Cyclone Nargis exceeded US$10 billion (euro 6.49 billion).
2008-05-20
SINGAPORE -- A top World Bank official says the bank won't give financial aid or loans to cyclone-hit Myanmar because of outstanding debts.
Managing Director Juan Jose Daboub says the World Bank is working with Southeast Asian countries by providing technical support to assess damages in Myanmar and to help them to plan rehabiliation efforts.
But he says the bank is "not in a position" to provide financial resources for Myanmar because the military-ruled nation has been in arrears with the World Bank since 1998.
His comments Tuesday came ahead of an aid donors conference in Yangon on Sunday to pledge funds for Myanmar, which has estimated that losses from the recent Cyclone Nargis exceeded US$10 billion (euro 6.49 billion).
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