World Bank earmarks $245 million for Myanmar, outlines work plan

WASHINGTON (Reuters) - The World Bank on Thursday earmarked $245 million in credit and grant funding for Myanmar under an 18-month work plan, the first lending to the southeast Asian nation in 25 years and another sign the country is opening up after years of military rule.

The interim country strategy, endorsed by the World Bank board at a meeting in Washington, will guide the institution's work in Myanmar, also known as Burma. The bank also approved an $80 million grant for community-driven rural projects.