The Myanmar Project Bank enhanced the effectiveness, coordination and transparency of public investment projects in Myanmar
Better coordination for major investment projects
Coordination between government agencies and funding partners can be a challenge when it comes to major investment projects. That's especially true when the projects span multiple locations, sectors and sources of financing. The Project Bank platform made digital project management more efficient by defining a clear framework for managing major, transformative investment projects and their data.
The interactive, online database was publicly available and included key data on proposed infrastructure projects which are pre-screened, appraised and prioritised to ensure they contribute to the long-term development of the nation.
The program has became a vehicle for better governance, a creator of opportunities for collaboration, and an influential driver in achieving development and economic outcomes.
Projects were assessed based on social, environmental, economic and risk indicators, as well as their overall strategic impact towards achieving objectives outlined in the Myanmar Sustainable Development Plan. This meant that, upon publication, they were ready for implementation as soon as an appropriate source of financing is secured - whether that be through the national budget, Official Development Assistance (ODA) or private sector financing.
Better partnerships with investors & development partners
The Project Bank platform made government information publicly accessible so that investors and development partners could access accurate data and identify how they could best contribute to projects. The Myanmar Government benefitted from increased opportunities to secure funding.
Citizens of Myanmar also had access clear and detailed information on how each project aligns with national development objectives, contributing to a more transparent system for all.