World Bank, Asian Development Bank Freeze Funds to Myanmar to Shun Junta

KUALA LUMPUR, MALAYSIA - Moves by the World Bank and Asian Development Bank to freeze funds to post-coup Myanmar could make many vulnerable communities worse off even as the lenders look for ways to keep some projects going without the government, analysts and experts say.

The World Bank said February 19 it was freezing outlays to Myanmar “as we closely monitor and assess the situation.” The ADB followed suit March 10, putting a hold on new contracts and funds to existing public-sector projects.  Together, the institutions have put hundreds of millions of dollars in aid to Myanmar on hold to avoid working with the country’s new military junta, which has shot and killed more than 400 people since seizing power February 1 to quell protests, according to local media and activists. Counting the cost