ADB and NEDA are exploring joint development of corridor towns in Myanmar.
The Asian Development Bank (ADB) and the Neighbouring Countries Economic Development Cooperation Agency (NEDA), a Thai development agency, have signed a partnership arrangement to carry out joint cooperation programs at national and regional levels.
The partnership arrangement was signed in Bangkok by James A Nugent, director general of ADB’s Southeast Asia Department, and Newin Sinsiri, president of NEDA.
“ADB has worked with and supported Thailand’s increasing role as a regional development partner for over a decade,” said Nugent.
“Given the country’s strategic location and dynamism, we strongly believe that our joint cooperation with NEDA will contribute to sustainable development in the region.”
Under the arrangement, ADB and NEDA will jointly support economic development programs, mainly in Thailand’s neighbouring countries, in transport, energy, urban development, development of special economic zones, health and education.
The forms of cooperation include co-financing, knowledge sharing, and capacity development based on common areas of interest and the expertise of each organisation, as well as the priority needs of the targeted countries.
“With the same vision to improve economic development, living conditions, and quality of life for people in the region, ADB and NEDA have potential for joint cooperation in many areas,” said Newin.
“The partnership arrangement should be a broad framework for both organisations to work together systematically and effectively.”
ADB and NEDA said they are currently exploring the possibility of joint development of corridor towns in Myanmar along the GMS East-West Corridor. Supporting the corridor towns to function as nodes of economic activity and growth centres will contribute to the transformation of the GMS East-West Corridor into a full-fledged economic corridor, the Manila-based lender said.
ADB has provided more than $6 billion for investment and over $100 million for technical assistance in the GMS over the past 20 years through various projects covering sub-regional roads and transportation links, cross-border energy, tourism infrastructure and communicable diseases control.
Over the past decade, NEDA has provided loans and grants worth more than 14 billion baht to support infrastructure development and enhance connectivity in neighbouring countries.
