The regional Minister for Planning and Finance, U Myat Thu told the second session of the regional Hluttaw that the development projects will be implemented in two ways; some will be carried out with loans and some will be carried out with financial support.
Nineteen of the projects will be carried out with the help of loans from international development aid agencies: the World Bank, Asia Development Bank (ADB), Japan International Cooperation Agency (JICA) and French Development Agency (AFD), and the other 11 will be carried out with international financial assistance, he said.
Projects that will be implemented with loans cover four sectors – agricultural, electricity supply, development of the river system and transportation – while seven others will be overseen by Myanmar Railways for the upgrade of railroads as well as purchasing new locomotives and coaches for both passengers and goods.
Projects that will be implemented with financial assistance will cover agricultural sector and urban development works and water supply works, which will be carried out by the city development committee.
But a regional hluttaw MP, Dr Chit Ko Ko from Constituency 1 of Pyigyitagun township was asking more details about these projects.
“Only two projects, the Amarapura Urban Development Project and Project for the Development of Ayeyarwady River System, have been submitted to Hluttaw. The other projects have yet to be submitted. When it comes to implementing projects, it shall seek approval from Hluttaw,” said Dr Chit Ko Ko.
Projects to be implemented on private owned lands are not required to submitted to hluttaw, especially if the regional government is not involved, according to regional chief minister Dr Zaw Myint Maung.
Respective companies are only required to take approval from the regional government after they secured permission from Myanmar Investment Commission, he added.
Source: Myanmar Times
