Skip to: Content
Skip to: Site Navigation
Skip to: Search

November 21, 2008 2:53:21 AM CST

Learn about Newser Points »

« Back to the grid | Next story »

World Bank Nixes Loan to Burmese Junta

Posted May 20, 08 10:54 AM CDT in World 

(Newser) – As Burma looks for loans to cover an estimated for $10 billion worth of damage from Cyclone Nargis, the World Bank won't be among the lenders, the Telegraph reports. The junta has been in debt to the bank for more than a decade, and the bank is legally barred from making another loan, says its managing director.

The World Bank does plan to consult with the UN and ASEAN—the Southeast Asian regional body that the junta has allowed to coordinate limited foreign aid—on planning for economic reconstruction. More than two weeks after the disaster, as the nation observes three days of official mourning for the more than 200,000 dead, only about 20 percent of the 2.5 million cyclone survivors have received any aid at all, the Telegraph reports.

Source Daily Telegraph (UK)

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • Suu Kyi's Silence Troubles Followers

    Nov 11, 08 3:26 PM CST
    Suu Kyi's Silence Troubles Followers Aung San Suu Kyi, who’s spent 20 years under house arrest, is an almost sainted symbol of democracy to the people of Burma, the Guardian writes. But since 2003, the Nobel Peace Prize winner has  offered no practical leadership for her party, the National League for Democracy, and has remained inexplicably silent as a monks' uprising was brutally crushed, and a cyclone killed 170,000 Burmese. Some within the party are seriously questioning her legacy. More »

  • Burma Still Cleaning Up 6 Months Later

    Nov 2, 08 7:18 PM CST
    Burma Still Cleaning Up 6 Months Later Six months after Cyclone Nargis smashed into Burma's coastline, killing tens of thousands of people, aid groups say once-lagging relief efforts have picked up pace but the task of rebuilding and recovery is far from finished, the AP reports. Foreign aid staffers were initially barred from cyclone-affected areas and the ruling military junta was criticized for its ineffective response to the disaster last May.
    More »

  • Out of the Cyclone, Seeds of Change in Burma

    Aug 23, 08 6:51 AM CDT
    Out of the Cyclone, Seeds of Change in Burma In the wake of the ruling junta's efforts to waylay foreign aid following May's Cyclone Nargis, Burmese citizens—including former political prisoners—created a grass-roots relief effort to help the embattled populace. In doing so, writes George Packer in the New Yorker, they may have created the catalyst for long-awaited political change in a once-prosperous nation impoverished by its military rulers. More »

  • Burma Indicts Dissident Comedian

    Aug 7, 08 9:54 AM CDT
    Burma Indicts Dissident Comedian A popular comedian who became one of the most prominent critics of Burma's military government has been formally charged with several political offenses. Zarganar, who had been leading a citizen effort to aid victims of Cyclone Nargis, has been indicted on five counts, including unlawful association and creating public unrest. More »

  • Burma Aid Delays Less Deadly Than Feared

    Jun 18, 08 5:13 AM CDT
    Burma Aid Delays Less Deadly Than Feared Delays in getting help to cyclone survivors in Burma's Irrawaddy Delta have not caused the catastrophe initially feared, according to aid workers. Hardy villagers have managed to survive on fish and coconuts, helped by aid from private Burmese citizens and monks, reports the New York Times. Expected massive outbreaks of disease have not occurred—but aid workers warn that many are still at risk. More »

Victims of Cyclone Nargis walking past destroyed villages in the Lat Put Tar region of the Irrawaddy delta in Myanmar.   (AP Photo/HO, Mandalay Gazette, HO)
Survivors of Cyclone Nargis wash themselves with water from a pond created by heavy rains near their makeshift shelters, at a camp set up by UNICEF, in Burma Tuesday, May 20, 2008.   (AP Photo/UNICEF)
Survivors of Cyclone Nargis look out from their makeshift shelter, at a camp set up by UNICEF, in Myanmar Tuesday, May 20, 2008.   (AP Photo/UNICEF)
Survivors of Cyclone Nargis rest inside their makeshift shelter, at a camp set up by UNICEF, in Myanmar Tuesday, May 20, 2008.   (AP Photo/ UNICEF)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Threads (
1
 of 3)

Tags

Burma • Myanmar • World Bank • Cyclone Nargis • military junta • emergency aid


Loading...

Premium Articles from HighBeam

Find more articles like this

Today's Most Popular

Loading...

Other World Stories

What is Newser?

2008 Codie Finalist

Face it: there's too much news. At Newser a team of editors and writers culls the most important stories from hundreds of U.S. and international sources and reduces them to a headline, picture, and two paragraphs. It's the Newser guarantee: we can take any report or column or video and pack what you need to know into 120 words or less. Newser's short-form aggregation, visual format, and unique information tools help you get more of the kind of news you want, in a quicker and more entertaining way. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »