World Bank taking 'extra cautious' approach toward Myanmar-Malpass

The World Bank is taking an "extra cautious" stance toward future engagement with Myanmar after the country's military seized power but is continuing to execute existing projects there, World Bank President David Malpass said on Thursday.

Malpass told reporters that the multilateral development lender has no new Myanmar projects in the pipeline and will be looking for guidance from its shareholders as to how to move forward. The bank had previously taken a cautious approach because of issues with Myanmar's treatment of Rohingya Muslims, he added.