Asian Development Bank suspends financing Myanmar

The Asian Development Bank (ADB) has suspended funding to the authorities in Myanmar following a military coup in the country, Report informs referring to TASS.

For now, new contracts won’t be signed with them either.

The decision to suspend funding came into force on Feb. 1, when the military in Myanmar toppled the civilian government and took power.

ADB provided a total of $2.4 billion in loans to this country from 2013 to 2019. So far, the bank has been involved in two government road infrastructure projects there.