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    .         f-OR IMMEDIATE RELEASE.
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.A/orld Bank
    1818 H Street, N.W., Washington, D.C. 20433, U.S.A.• Telephone: (202) 477-1234


        BANK NEWS RELEASE                                                            December 12, 1980
                                       MEETING OF THE BURMA AID GROUP

                  The following announcement was issued on December 11, 1980, at the World Bank's
        Pa r i s off i ce .

                Governments and institutions concerned with development assistance to Burma met
        in Paris on December 11, 1980, under the chairmanship of the World Bank. The meeting
        was attended by representatives of the Governments of Australia, Belgium, Canada, Finland,
        France, Federal Republic of Germany, Italy, Japan, Norway, Switzerland, United Kingdom,
        and the United States. The Asian Development Bank, the Commission of the European
        Communities, the Development Assistance Committee of the Organization for Economic
        Cooperation and Development, the International Monetary Fund, and the United Nations
        Development Programme were also represented.

               The Burmese delegation was led by His Excellency U Tun Tin, Deputy Prime Minister
        and Minister for Planning and Finance. He was accompanied by His Excellency Dr. Maung
        Shein, Deputy Minister for Planning and Finance, His Excellency U Maung Maung, Ambassador
        of Burma to France, Dr. Aye Hlaing, Chairman of the Union of Burma Bank, U Thein Myint,
        Director General of the Foreign Economic Relations Department, U Hla Maung, Director
•        eneral of the Planning Department, U Kyaw Myint, Director General of the Budget Depart-
        ment, and U Nyunt Lwin, head of division.

               The leader of the Burmese delegation reviewed recent economic developments, high-
        lighting the more rapid growth achieved in recent years. This was primarily due to the
        success of the government's whole township special high-yield paddy production program.
        In the medium-term, the government would further accelerate its investment effort, giving
        high priority to the requirements of the agricultural sector. As a complement to the
        public investment effort, actions were now underway to respond to the needs of the
        cooperative and private sector. In order to achieve these objectives the government
        would make intensive efforts to secure more external and domestic resources. While
        export volumes had increased recently, the government intended to continue its policy
        of diversifying beyond agricultural products into forestry and mineral products. The
        government was also considering various new measures to increase domestic resources.

               The participants in the meeting expressed their satisfaction with the good economic
        performance in the Third Four Year Plan to date. They endorsed the government's intention
        to mobilize more external and domestic resources, emphasizing that the Government of
        Burma would have to take bold and far-reaching measures to meet its development objectives.
        In view of the expected resource constraints, Burma should concentrate its investment
        in those areas which have the potential to generate substantial net output and export
        receipts, in addition to making use primarily of domestic inputs. These activities
        include the primary producing sectors, supporting infrastructure, and agro-based industries.

               The participants in the meeting concluded by endorsing the broad thrust of
        government policies and by reaffirming their continued support, with total aid indica~
•       tions of about US$500 million.

                    The group agreed to meet again in about a year's time.