YCDC budgets $77 million for Yangon flooding

The Yangon City Development Committee (YCDC) will spend US$77 million (K104.7 billion) to fund projects to end flooding in Yangon Region, said Yangon Mayor U Maung Maung Soe.

The mayor said the money is part of the $124 million loan provided by the World Bank to end the perennial flooding in the country’s economic capital and for public infrastructure safety, U Maung Maung Soe told the Yangon parliament session on August 31.

“We will use $77 million for anti-flooding projects. During this period, we need to learn detailed information about the amount of rainfall, about the amount of water people are using and many other details,” said U Maung Maung Soe.

The mayor said that during the 2016-2017 financial year, YCDC had unblocked storm drains in 31 townships in Yangon Region by paying $1 million to private contractors.

But public cooperation was weak and most Yangon townships flooded again this rainy season.

‘’I would like to say that YCDC should do education and protection program for new drainage, and other, because the money for projects is too much,” said U Maung Maung Soe.

YCDC will use $21 million for public infrastructure safety and $5 million on education and management.

“For public infrastructure safety program, we will favour the Gyoe Phyu dam, Bogyoke Aung San market, Theingyi Zay and other building, with this loan.

“But this loan is the government’s debt and we need to use this well. We have planned to cooperate with the public and implement the project transparently,” said U Maung Maung Soe.

Source: Myanmar Times

NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, “Puma Energy”, “MOGE”, “yangon new town”,”MECTEL”, “hydropower”, etc.

.

Looking for foreign investors to invest in your business in Myanmar