Ministry to take US$80 million loan from ADB

Deputy Minister for Construction Kyaw Lin has submitted a proposal to take a US$80-million (107.38 billion kyat) loan from the Asian Development Bank for the water supply and garbage collection projects in Mawlamyine and Hpa-An, he said at a session of the Union parliament on February 22.

The ministry will request loans from the ADB to help fund the GMS East-West Economic Corridor Town Development Project. The project will help support infrastructure development essential for urban development and socio-economic development, he said.

The ADB also loaned $1.35 million to fund a November 2014 feasibility study, the project’s preparatory technical assistance). That report was released in August 2016.

Mon and Kayin state governments submitted plan to the Construction Ministry last March and May for urban development projects using overseas loans.

On behalf of the state governments, the Construction Ministry will take out loans and act as the executing agency, Kyaw Lin said.

For their part, Mon and Kayin state governments will act as implementation agencies.

The ADB loan would be applied to urban development projects in Mawlamyine and Hpa-An. The loan would also include a grant of $4.4 million under the green climate fund. Thailand’s Neighbouring Countries Economic Development Agency (NEDA) will implement the project in Myawaddy, worth $24.3 million, Kyaw Lin added.

Source : Eleven Myanmar

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