ADB approves loan to fund new Myanmar expressway

The Asian Development Bank (ADB) has approved a US$483.8 million loan to build a 64-km expressway connecting the capital of Bago region and the township of Kyaikto in Mon state in Myanmar.

The move supports the Myanmar government’s aim to increase investment in transport infrastructure to 3 percent of GDP by 2030, up from an average of 1pc from 2005 to 2018.

ADB said the new expressway will help to support economic development along the Greater Mekong Subregion (GMS) East–West Economic Corridor.

“The Second GMS Highway Modernisation Project will see the government build the four-lane Bago-Kyaikto expressway and help ensure more efficient and safer movement of goods and people along the GMS economic corridor,” ADB Senior Transport Specialist Shihiru Date said.

“The project will help strengthen Myanmar’s connectivity with Thailand and other countries along the GMS corridor and promote trade, tourism, and investment,” he said

The expressway will include a 2.3-km bridge across the Sittaung River, which will be financed by the Japan International Cooperation Agency via a ¥27.8 billion loan.

The project will help improve the ability of the Ministry of Construction to manage the country’s major toll highways and implement social and environmental safeguards. It will also include a new community-based road safety program for villagers along the Bago – Kyaikto corridor.

Transport has been a key sector of ADB’s support for Myanmar since 2012, with a focus on GMS corridors and rural–urban links, among others.

Source : Myanmar Times

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