February 11, 2017

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USD 836 million Japanese ODA loan for Myanmar

Left: Mr. Keiichiro NAKAZAWA, Chief Representative, JICA Myanmar Office, Right: U Maung Maung Win, Director General, Treasury Department, Ministry of Finance. Photo JICA
Left: Mr. Keiichiro NAKAZAWA, Chief Representative, JICA Myanmar Office, Right: U Maung Maung Win, Director General, Treasury Department, Ministry of Finance. Photo JICA

On October 16, Japan
International Cooperation Agency (JICA) signed three loan agreements of up to a total of 99.85 billion Japanese Yen (approximately USD 836 million) with the Republic of the Union of Myanmar. The highly concessional ODA Loans (0.01% annual interest rate, 40 year repayment period including 10 year grace) will finance three key projects identified in the transport and power sector masterplans supported by JICA.
“East-West Economic Corridor Improvement Project” is expected to satisfy increasing traffic demand and make domestic and international flow of goods more efficient by replacing three bridges in the Mawlamyine (Mon) – Kawkareik (Kayin) section.
“Yangon Circular Railway Line Upgrading Project” aims to achieve safe, efficient and comfortable public transport services in Yangon, by rehabilitating and replacing the existing railway facilities and the rolling stock. The project is based on the Comprehensive Urban Transport Plan of the Greater Yangon up to 2035.
“National Power Transmission Network Development Project Phase II” is for construction of high voltage trunk transmission line and related 500kV substations. The project will promote universal access in line with the National Electricity (Power Sector) Master Plan up to 2030.
JICA, as a long-standing friend of Myanmar, will continue to maximize Myanmar’s potential for inclusive and sustainable growth, based on long-term strategic planning and by using every means of our assistance.

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