The Asian Development Bank (ADB) has approved a US$171.27-million loan to expand electricity access in Myanmar. ADB provided $171.27-million loan to help Myanmar construct 44 medium-voltage substations and 1,006 kilometres of distribution lines across Kayin state and the Ayeyarwady, East Bago, and Magway regions. The Accelerated Rural Electrification Project will expand the electric grid to […]
Myanmar to grow by 6% in 2021: ADB
December 14, 2020 by
The Myanmar economy is forecast to expand by 6 percent in 2021, according to the Asian Development Bank (ADB) in its latest report on December 10. “The outlook for developing Asia is showing improvement. Safe, effective, and timely vaccine delivery in developing economies will be critical to support the reopening of economies and the recovery […]
$171 Million ADB Loan to Help Expand Electricity Access in Myanmar
December 8, 2020 by
MANILA, PHILIPPINES (5 December 2020) — The Asian Development Bank (ADB) has approved a $171.27 million loan to help Myanmar construct 44 medium-voltage substations and 1,006 kilometers of distribution lines across Kayin state and the Ayeyarwady, east Bago, and Magway regions. The Accelerated Rural Electrification Project will expand the electric grid to enable electrification of […]
Construction of Bago-Kyaik Hto Expressway to commence in 2022
November 13, 2020 by
Construction of an expressway connecting the city of Bago and Kyaik Hto township in Mon State is expected to start in fiscal 2022-23, U Aung Myint Oo, Director General of Department of Highways under the Ministry of Construction, told the Myanmar Times. This comes after the Asian Development Bank (ADB) last week approved a US$483.8 […]
Yangon receives ADB loan to improve water supply system
October 7, 2020 by
The Asian Development Bank (ADB) has approved a US$180 million loan to develop and upgrade the water supply system in Yangon. This comes after the Yangon City Development Committee (YCDC) applied for funds under the Cities Development Initiative for Asia (CDIA) for the Yangon City Water Resilience Project. The CDIA is an ADB-backed fund assisting […]
Myanmar’s economic growth to recover but FDI under threat: ADB
September 28, 2020 by
Myanmar’s economic growth is expected to recover in the coming 2020-21 fiscal year, but the impact of a weakened global economy may affect foreign direct investments (FDI) into Myanmar in the future, according to a recent outlook report by the Asian Development Bank (ADB). Myanmar FDI approvals increased to US$4.3 billion for the three quarters […]
ADB to extend loans in support of development in Myanmar
May 27, 2020 by
Myanmar is planning to take a US$60 million loan from the Asian Development Bank (ADB) to establish a Credit Guarantee Corporation (CGC), U Maung Maung Win, the Deputy Minister for the Ministry of Planning, Finance, and Industry, said in Parliament on May 21. The proposal was sent by the President. U Maung Maung Win said […]
Myanmar Solar: Lots of Potential, But a Cloudy Outlook for Solar Energy Development and Growth
December 16, 2019 by
Solar energy is just beginning to gain some traction in Myanmar, a country that has been gradually opening up its economy and society to the world since 2011. Demand for energy has been growing fast, in parallel with the ASEAN (Association of Southeast Asian Nations) member’s economy, and solar energy is competing against a variety […]
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