Tuesday
September 20
2016

White House: U.S. to Support $10 Million in Loans to Myanmar Small Businesses

At the invitation of President Barack Obama, Daw Aung San Suu Kyi, State Counsellor of the Republic of the Union of Myanmar, is on an official visit to Washington, D.C. in September 2016.  During the visit, State Counsellor Daw Aung San Suu Kyi and President Obama held a meeting on September 14 in the White House and adopted this joint statement.

Both leaders remarked on the tremendous change in Myanmar over the past five years, during which time Myanmar moved from a military government through a period of opening, held free and fair elections in November 2015, and inaugurated a new, democratically elected government in March 2016.  State Counsellor Daw Aung San Suu Kyi expressed her appreciation for the role played by the United States and other members of the international community in encouraging and supporting this transformation, and President Obama affirmed continued U.S. support for Myanmar’s democratic transition.  Both leaders noted that Myanmar’s transition has allowed for a dramatic change in the bilateral relationship, creating opportunities to build a robust, multi-faceted partnership for the mutual benefit of both countries.

The State Counsellor reiterated to the President her commitment to furthering Myanmar’s democratic transition by pursuing peace, national reconciliation, and inclusive growth.  She expressed her belief that the 21st Century Panglong process, inaugurated on August, 31, 2016, would lead to a lasting peace with armed ethnic groups and help the people of Myanmar build an inclusive Union that embraced the country’s rich diversity.  She stressed her government’s commitment to the resolution of the complex political, economic, and humanitarian challenges in Rakhine State and the development of the state’s economic potential.  Noting that peace, national reconciliation, and inclusive economic growth were mutually reinforcing, the State Counsellor described the range of economic policies the Government of Myanmar was pursuing to develop its economy. She stressed that Myanmar welcomes international investment to help promote strong, inclusive, and long-term economic growth and asked that the United States lift remaining sanctions on Myanmar to encourage this investment and in recognition of the steps Myanmar has taken toward democratization.

Source: Press Release (link opens in a new window)

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lending, small and medium enterprises