18th November 2020 - Source: Myanmar Times

Myanmar's new development assistance policy has been announced by the Ministry of Investment and Foreign Economic Relations.

The Myanmar Development Assistance Policy 2020 aims to develop a specific set of policies to make effective use of development assistance, such as international aid and concessional loans, and align aid programmes with the country's development goals set out by the Myanmar Sustainable Development Plan (MSDP).

The policy, first released in 2018, has now been modified and updated to comply with instructions and feedback from the Union Government Office and relevant ministries.

The policy is also intended to ensure that assistance provided is implemented in a timely, efficient, and effective manner, in line with the MSDP, said State Counsellor Daw Aung San Su Kyi in the policy document. The MSDP is the economic blueprint of the National League for Democracy-led government.

The new policy also seeks to facilitate a more investment-friendly environment in Myanmar, said U Thaung Tun, Minister for Investment and Foreign Economic Relations and chair of the Myanmar Investment Commission.

"Indeed, development assistance can serve as a driver for greater private investment, helping to foster economic growth, create employment opportunities, and facilitating technology and knowledge sharing," the minister said. "Therefore, I am confident that this policy will provide much needed strategic direction for both our partners in development and government entities alike."

The implementation of this policy is overseen by the Development Assistance Coordination Unit, chaired by State Counsellor Daw Aung San Suu Kyi and led by the Ministry of Investment and Foreign Economic Relations.



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