OREANDA-NEWS. The Asian Development Bank (ADB) and the Government of the Republic of the Union of Myanmar today signed an agreement for a $3 million grant to support the development of tourism-based micro and small enterprises in Mon state. The grant, from the Japan Fund for Poverty Reduction (JFPR), is being administered by ADB.

The signatories included Ministry of Hotels and Tourism Director General Tint Thwin and Ministry of Planning and Finance Permanent Secretary Maung Maung Win for the Government and ADB Country Director, Winfried Wicklein. The event was witnessed by the Union Minister of Hotels and Tourism Ohn Maung and Senior Advisor of OCO Tatsuya Kanai.

“This grant will support micro and small-enterprise development, resulting in increased employment and economic opportunities for the poor, including women selling crafts and local food to tourists and residents in the townships of Chaungzon Island, Kyaikhto, Mawlamyine, and Mudon,” said Mr. Wicklein.

The project will provide both technical and skills-based training support in areas including business management, finance, technology, and identifying and accessing markets. Building competitive and sustainable businesses will help reduce household poverty.

The Government of Japan-supported JFPR provides direct grant assistance to the poorest and most vulnerable groups among ADB’s developing member countries, while fostering long-term social and economic development. From 2012 to 2016, it has supported 16 projects in Myanmar, in areas including education, livelihood development, finance, transport and energy.

ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB in December 2016 will mark 50 years of development partnership in the region. It is owned by 67 members – 48 from the region. In 2015, ADB assistance totaled $27.2 billion, including cofinancing of $10.7 billion.