UK trade and investment minister announced Friday that the UK government and Standard-Chartered Bank would work together to help Myanmar develop its monetary sector, according to a Mizzima report.
The meeting came after the visit of Myanmar president Thein Sein to UK on his second European visit.
The president held a meeting with UK trade and investment minister Lord Green on his visit.
The support would include loans and capacity building for development of the country’s financial sector.
“I am glad to hear that Standard-Chartered Bank, an international bank is helping our country,” Mizzima quoted Than Lwin, vice chairan of Kanbawza Bank, one of a few private banks in Myanmar.
The bank is due to open its country office in Myanmar in coming year, joining many international creditors rushing into the Southeast Asian country.