China and Myanmar Launch Poverty Reduction Project

Feb 2018
Myanmar China, February, 05 2018 - A model project for rural poverty reduction with financial and technical assistance from China was launched in Lewe and Tatkon townships in Nay Pyi Taw last week, the Ministry of Agriculture, Livestock and Irrigation said in a statement.

The agreement was signed during the visit of Chinese Foreign Minister Wang Yi in November, Union Minister U Aung Thu said during the launching ceremony on Thursday.

The project includes social infrastructure development, vocational training, income generation and capacity-building assistance for residents of Minbyin village in Lewe township and Aye Chanthar village in Tatkon township.

China has provided a total of 33.33 million yuan (US$5.31 million/K7.06 billion) in assistance for the project, he added.

“This project fully reflects the economic policy of the state and it aims to launch pogrammes that can bring necessary development to the state,” Minister U Aung Thu said.

China will also send expert missions in addition to financial assistance in order to ensure the success of the project, according to Chinese Ambassador to Myanmar Hong Liang said.

“In addition to a poverty reduction model project, we are encouraging them to implement construction of village roads and bridges, construction of an agricultural product quality control center, hybrid paddy seed research and animal disease laboratory,” he said.

Over 7000 people from 1400 households in the project areas are expected to benefit from the assistance, he added.

According to the Myanmar Household Income and Expenditure Survey, the country’s poverty rate dropped to 19.4 percent in 2015 from 25.6pc in 2009-2010.

But Minister U Aung Thu said Myanmar’s poverty level still ranks ninth among the 10 ASEAN countries and ranks sixth out of seven member countries which are part of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation.

“We have a lot more work to do for rural development and poverty reduction,” the minister said.

Source : Myanmar Times

Research Analysis Tools

The fund indexes, institution benchmarks and other market information displayed here are all Symbiotics designed analysis tools, created in-house by our analysts and experts. Symbiotics has one of the oldest track records in microfinance investment analysis dating back to the late 1990s; its indexes and benchmarks have been regularly used as markers by investors, asset managers, financial institutions and practitioners. These, as well as several other research products, are available through the Research Account. Click on the link below to find out more.

Learn More