ADB to Loan $100 Million to Upgrade Road in Kayin on GMS Corridor Route

The Asian Development Bank (ADB) has approved a $100 million loan to improve a 66.4 kilometre section of road connecting the towns of Eindu and Kawkareik in Kayin state, dubbed as the missing link of the Greater Mekong Subregion (GMS) East-West Corridor. The Manila-based lender said the project will improve the existing two-lane road in […]

ADB to Help Banks Boost Risk Management Capacity for SME Lending

The Asian Development Bank (ADB) said it will help commercial banks in Myanmar raise their risk management capacity for lending to small and medium-sized enterprises (SMEs). To further this aim, ADB and Myanmar Banks Association held a 4-day workshop last week. The workshop covered key of credit risk management and operational risks in SME lending. […]

Myanmar to establish Credit Guarantee Corporation for SMEs

Myanma Insurance plans to establish the Credit Guarantee Corporation using Japanese aid for small and medium enterprises (SMEs), said Sett Aung, Vice Chairperson of the Central Bank of Myanmar on December 20. “Although a credit guarantee scheme exists, we plan to establish a corporation with the aid of a Japanese bank. Japan sent analysts to […]

Credit guarantees to aid SMEs

Plans are underway to start a credit guarantee corporation for mortgages after the government enacts the Small- and Medium-Sized Enterprise (SME) Development Law, said Aye Aye Win, the deputy director of the Ministry of Industry. The ministry would introduce a credit rating system in order to implement credit guarantee support. The insurance corporation has been […]

Australia to Offer $27m for Myanmar’s Education Sector

Australian Foreign Minister Julie Bishop has announced plans by her government for “increasing educational opportunities for primary and tertiary students” in Myanmar. During her recent three-day visit to Myanmar, she said the Australian government will provide a $27.8-million funding to boost services in 43,000 schools and strengthen teacher training colleges for tertiary sectors. “Education is […]

US to Help Myanmar Improve Highway Safety

The United States will help Myanmar improve the safety of the Yangon-Mandalay highway where hundreds of car accident cases have occurred over the past five years. The United States Agency for International Development (USAID) and the Ministry of Construction signed a letter of agreement recently on this regard. US architecture and engineering experts will train […]

S Korea to Open Polytechnic University in Myanmar

South Korea and Myanmar will cooperate in technology development by opening a polytechnic university in the Southeast Asian country. The government has approved a draft memorandum of understanding between Myanmar and South Korea on this project, according to Dr Aung Kyaw Myat, deputy minister for science and technology. The South Korea Polytechnic University and the […]