Myanmar to get $200 mn as disaster recovery loan

Naypyidaw, July 15 (IANS) The World Bank on Friday said it has approved the provision of a loan of $200 million to Myanmar for the recovery of areas hit by floods and landslides in 2015.

The World Bank will finance the country for road reconstruction, livelihood support and recovery of the agriculture sector as part of its Flood and Landslide Emergency Recovery Project (FLERP), Xinhua news agency reported.

Repairing and improving roads will help improve access to schools and clinics, and open markets for residents of the flood-hit areas, the World Bank Country Director for Southeast Asia, Ulrich Zachau said.

The floods and landslides that occurred between July and September in 2015 displaced over 1.6 million people and caused 132 fatalities across the country.