Myanmar received over $1 bn in development loans

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ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

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AEC NEWS

Eleven Myanmar   SAT, 30 JAN, 2016 1:00 AM

Myanmar received loans of over US$1 billion from Japan, South Korea and international organisations for various development projects in the 2014-15 fiscal year, according to an annual report released by the Ministry of National Planning and Economic Development.

The loans were used to upgrade telecommunications infrastructure and railroad sections, to build sub-power stations and to reform the financial sector throughout the last fiscal year.

The Ministry of Education, the Ministry of Finance, the Ministry of National Planning and Economic Development, the Auditor-General’s Office and the Myanmar Economic Bank received $141.5 million in loans from the World Bank.

The government of Japan loaned Myanmar $628.180 million for the upgrade of the Thilawa-Thanlyin road under the construction ministry; the upgrade of the Yangon-Mandalay railroad project by the ministry of rail transportation; the extension of the Lagonepyin water supply project in Yangon under the Yangon City Development Committee and the development of dam projects in western Bago Region.

China loaned $20 million for the construction of the 40-mile-long Athoke-Pathein power grid and sub-power station. South Korea loaned $200 million for the construction of the Taunggo-Kamarnat sub-power station and the purchase of farm equipment through the long-term instalment system.

The International Fund for Agricultural Development (IFAD) loaned Myanmar $18.7 million for the development of Myanmar agricultural sector. The Asian Development Bank loaned Myanmar $60 million for extended power distribution projects in Yangon, Mandalay, Sagaing and Magway regions.

During the 2014-2015 fiscal year, Myanmar implemented 115 development projects with the use of $480.338 million in loans from international organisations, according to the ministry’s report.

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