"Much work remains to be done. We are committed to helping the government accelerate poverty reduction and build shared prosperity. The Bank's engagement, together with the ADB, the Government of Japan and other partners, will help attract investment, spur growth and create jobs."
Myanmar ran up $8.4 billion in debt during the socialist regime of the late Gen. Ne Win between 1962 and 1988, and $2.61 billion of debt after a new military junta took over in 1988, making for a total of just more than $11 billion.
The largest creditor before 1988 was Japan, with loans of $6.39 billion, and the biggest post-1988 creditor was China, with $2.13 billion.
According to the Japan External Trade Organization, Myanmar's exports to Japan totaled 1.73 billion kyat ($2 million) in 2011, while its imports from Japan were 2.7 billion kyat ($3.1 million).
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Associated Press writer Grant Peck in Bangkok and AP Business Writer Elaine Kurtenbach in Tokyo contributed.
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