fbpx

Parliament approves to borrow US$80 M from ADB

Union Parliament approved to borrow US$80 million from Asian Development Bank (ADB) for towns along Greater Mekong Sub-region development project.

Kyaw Tin, Deputy Minister for Construction said the project is to develop towns located along the East-West Economic Corridor in Greater Mekong Sub-region. The ministry chose Hpa-an and Myawady from Kayin State and Mawlamyaing from Mon State as the towns for the project because they are secondary cities, and have development in economy, social, transportation and services sectors.

According to cross border transport agreement, the three border towns are chosen as they are convenience for millions of travelers visiting Myanmar from the Greater Mekong Sub-region. Moreover the government is implemented to develop Hpa-an industrial zone, draw joint special development plan for Myawady and Mawlamyaing and conserve general administrative office in Mawlamyaing as national heritage, he said.

Maung Maung Win, Deputy Minister for Planning and Finance said, “Hpa-an, Myawady and Mawlamyaing are located along the East-West Economic Corridor and they have potential to be developed. Implementing of sanitation and waste disposal systems and preservation work for ancient buildings can assist basic infrastructure for urban development and socio-economy development.

The projects will be implemented by Mon and Kayin state governments and developed by Ministry of Construction. The Ministry of Construction, Ministry of Planning and Finance, respective state governments and the ADB will make further negotiations for the loan, said Maung Maung Win.

Source: Eleven Myanmar

To see the original article click link here

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