The World Bank pledged financial support to Myanmar Tuesday, emphasizing the need to boost the former pariah state's access to electric power, telecommunications and banking services.
Improving electricity supply is a key development priority requiring public and private investment, Axel van Trotsenburg, the bank's East Asia and Pacific vice president, said.
"Turning on the lights in Myanmar will enable children to read at night, and encourage villagers to start new businesses which will lead to growth and jobs," Trotsenburg said. "Sufficient, reliable and affordable electricity will help relieve poverty in rural areas and create opportunities for all."
He said only 25 per cent of the population currently has access to reliable electricity.
A World Bank delegation met with President Thein Sein, government ministers and members of parliament to assess development needs during a three-day visit.
Myanmar received little international development aid until recent political reforms by Thein Sein, including the release of opposition leader Aung San Suu Kyi and other political prisoners.
US President Barack Obama's visit in November dramatized Myanmar's rapid transformation to international investment magnet.
According to the World Bank, its economy grew at a rate of 5.5 per cent in fiscal 2011-12. It is expected to reach 6.3 per cent in fiscal year 2012-13.
The World Bank is providing 165 million dollars in zero-interest loans for priority needs, in addition to a 80-million-dollar grant for community-driven development.