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SINGAPORE - The World Bank is currently not in a position to give aid to Myanmar, its managing director said Tuesday, saying the cyclone-hit country has been in arrears since 1998.
"At this time we are not in a position of providing resources to Myanmar," Juan Jose Daboub told reporters.
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Because the military-ruled country has not been repaying its loans, the bank "cannot legally provide any resources to Myanmar," he said.
Daboub added that the bank is working with the Association of Southeast Asian Nations (ASEAN), of which Myanmar is a member, to provide technical support in assessing the cyclone damage and plan for reconstruction.
The World Bank has approved no new lending for Myanmar since 1987, and has no plans to resume its program, it said on its website.
The country is currently in arrears on its loans and has failed to enact economic and other reforms.
Aid has reportedly reached only a fraction of the estimated 2.4 million people severely affected by Cyclone Nargis, which left about 133,000 dead or missing when it smashed into the Southeast Asian country on May 2 and 3. - AFP/ir/vm
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