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Myanmar Signs Agreement With Asian Development Bank to Boost Transport Infrastructure

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The Asian Develop­ment Bank (ADB) and Myanmar have signed an advisory servic­es agreement to improve transport through public-private partnerships.

ADB will provide stra­tegic and transaction ad­visory services to support the Myanmar govern­ment’s bid to identify and develop transport pro­jects, the agency said.

“Improving Myanmar’s transport infrastructure is critical to achieving inclu­sive growth in the coun­try”, said Ryuichi Kaga, head of ADB’s Office of PPP.

“PPP is an important instrument to deliver in­frastructure, and ADB is looking forward to as­sisting the government in developing priority trans­port projects that could be structures on a PPP basis to mobilize private capital flow,” he said.

The Minister of Trans­port and Communication, U Thant Sin Maung, said improving transport in­frastructure is a top pri­ority for the government as it is critical to improve access to markets, and to support basic services such as health and educa­tion.

Only 40 percent of My­anmar’s road network is paved, according to ADB, and 20 million peoplehalf of the rural popula­tion – lack access to all-weather roads.

Weak inland waterways and river ports, higher transport cost and asso­ciated limited access to markets and services are considered a major bar­rier to lifting people out of poverty. Xinhua 

 

Source: Myanmar Business Today
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