BUSINESS – Burma rejects World Bank agri-loan

Burma’s parliament has opted to shelve a proposal by the Ministry of Agriculture to accept a US$163m loan from the World Bank and the UN’s International Fund for Agricultural Development, following objection by MPs who criticised the plan whereby the majority of proposed projects would be focused around the capital, Naypyidaw. The dissenting MPs, who also pointed to a lack of transparency in the agri-plan, and insisted that any loan should be directed at rural areas in the more needy regions of the country.