The World Bank has formed a partnership framework with Myanmar, which will focus on improving infrastructure, helping the country’s rural poor and supporting small businesses. As part of the 2015-2017 Country Partnership Framework (CPF), the World Bank will provide Myanmar with US$ 1.6 billion through its fund for developing countries, the International Development Association (IDA).

The Washington based lender will also provide Myanmar with US$ 1 billion in investment and US$ 20 million in technical assistance through its private sector arm, the International Finance Corporation (IFC). Ulrich Zachau, World Bank country director for Myanmar, said that the CPF is focused on reducing rural poverty, providing basic services and helping to boost the private sector. Around three million pregnant women and children will benefit from improved health services, and six million people will gain better access to electricity and other basic services under the framework, according to the World Bank.