World Bank says reengaging with Myanmar after 25 years

WASHINGTON (Reuters) - The World Bank said on Thursday it was in the process of returning to Myanmar after 25 years, but the isolated Southeast Asian nation will first have to clear its arrears to global financial institutions before the bank resumes lending.

Other multilateral lenders such as the Asian Development Bank have also taken preliminary steps towards resuming activities, while the European Union has started to unwind sanctions against Myanmar, after a new civilian government began introducing democratic reforms in late 2011.