Encouraged by Myanmar’s transition to democracy, foreign aid donors across the board have been increasing both the scale and scope of their assistance to the Southeast Asian country.
According to Devex analysis of data from the Organization for Economic Cooperation and Development, programmable official development assistance to Myanmar has increased tenfold since 2009, reaching $3.8 billion in 2013. Counting debt relief, ODA to Myanmar in 2013 exceeded $7.6 billion.
Myanmar has recorded rapid growth in recent years — an estimated 7.7 percent in fiscal 2014 — and the country’s business climate continues to improve. The Asian Development Bank forecasts that growth will accelerate to 8.3 percent in fiscal 2015.