February 10, 2017

Breaking News

Japan provides ODA loan up to JPY 31,051 million for Bago River Bridge Construction Project

Mr Tateshi Higuchi and U Maung Maung Win exchange the notes for the Bago River Bridge Construction Project.

Mr. Tateshi HIGUCHI, Ambassador of Japan to Myanmar and H.E. U Maung Maung Win, Deputy Minister for Planning and Finance, signed the Exchange of Notes for ODA loan project on Friday.
The project amounts to 31,051 million Japanese Yen (approximately 264 million US dollars).
This ODA project is announced by Prime Minister Abe to Daw Aung San Suu Kyi, State Counsellor, at the time of Summit in Vientiane, Laos, in September this year.
This project will assist in constructing a new bridge to connect Yangon City side with Thilawa SEZ. This project aims to improve traffic and logistics network on both sides of the bridge, which is expected to contribute to increasing direct investments in Thilawa SEZ and the development of Myanmar economy.
The loan will be provided with an interest rate of 0.01 per cent per annum, with 40-year repayment period (including a 10-year grace period).
The Embassy of Japan believes the ODA Loan project will contribute to the social and economic development of Myanmar, thereby improving people’s livelihood.

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