UCAN needs your support
You are why we do what we do - report, describe, comment, review. It is to bring to your eyes just what life is like for believers across Asia that we publish UCAN.
But as you know, the effort needs to be sustained if it is to have continuing effect.
UCAN publishes some 150 stories a week in four languages across six websites. We are grateful to benefactors in Europe and the US who support us. But those countries and the Church there are under increasing financial strain and their generosity no longer covers our costs.
We need financial help from our readers to sustain our efforts. Our reporters, editors, video producers and photographers all have families and we need to support them. They do excellent jobs, but they can't do their jobs for nothing.
Will you help us to sustain UCAN? Please click here to help.
Thanks in anticipation.
Fr. Michael Kelly SJ
World Bank approves US$80m in grants
Funds will primarily target poverty reliefTellers at a private bank in Yangon
- Min Set, Yangon and John Zaw, Mandalay
- November 2, 2012
The move follows a series ofÂ political and economic reforms by the new civilian governmentÂ following more than five decades of military rule.
â€śI am heartened by the reforms that have been taking place in Myanmar, and encourage the government to continue to push forward with their efforts,â€ť said World Bank Group President Jim Yong-kim.
â€śWe hope to move ahead as part of a united global community to deliver solutions to address peopleâ€™s most urgent development needs, especially in areas such as health, education, and infrastructure,â€ť he said. â€śWeâ€™ll also work to build up the private sector so jobs can be created.â€ť
According to BBC News, a World Bank official said another $165m will be made available once the country has cleared its overdue debt to the bank.
â€śOur strategy has a strong focus on inclusive development and reforms that create real opportunities for all the people of Myanmar,â€ť said Pamela Cox, World Bank East Asia and Pacific Regional Vice-President.
People from business and bank sectors in Myanmar hailed the announcement.
â€śI hope that the new aid will go toward theÂ building of roads and bridges and tackling poverty alleviation,â€ť said Hla Maung Shwe, vice-president of the Republic of Union of Myanmar Federation of Chambers of Commerce and Industry.
â€śThe media will play a great roleâ€¦ as itâ€™s the fourth pillar of the state,â€ť Hla Maung Shwe said, pointing out that transparency will play an important role in implementing new projects.
Ye Min Oo, managing director of Kanbawza private bank called it a reward from the international community due to the reforms.
â€śBut the government needs to show transparency and responsibility,â€ť he said.