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 […]
Invitation for Prequalification Greater Yangon Water Supply Improvement Project Phase 2, Deadline: 4th May 2020
March 17, 2020 by
The Government of the Republic of the Union of Myanmar Yangon City Development Committee Invitation for Prequalification Greater Yangon Water Supply Improvement Project Phase 2 Date: 17 March 2020 Loan Agreement No: MY-P19 IFP No : MY-P19/PQ-01 1. The Government of the Republic of the Union of Myanmar has received a Loan from Japan International […]
Govt seeks parliament approval for US$131M loan
February 11, 2020 by
The government is seeking approval for a loan of US$131 million from South Korea that will be used to upgrade the country’s natural-gas infrastructure, a senior official says. “The financing is meant to be used for a project to build a pipeline for the Shwe offshore gas field that will connect to the Myanmar-China gas […]
Hayman Microfinance receives US$ 2.75 Million Debt Capital from BlueOrchard
November 7, 2019 by
30th September 2019, Yangon. Hayman Capital Co., Ltd has signed a US$2.75 million term loan with –the Microfinance Initiative for Asia (MIFA) Debt Fund and the EMF Microfinance Fund, both managed by leading impact investment manager BlueOrchard Finance Ltd. The received fund of US$2.75 Million, equivalent of MMK4.1 Billion, is to be disbursed to support […]
WaveMoney, Yoma Bank collaborate to extend collateral-free loans
September 24, 2019 by
Wave Money has officially announced a collaboration with Yoma Bank Ltd to boost the development of micro, small and medium enterprises (MSMEs) in Myanmar. Through the collaboration, Yoma Bank provides unsecured, instant credit to Wave Money agents to help these agents operate their businesses more productively. Wave Money is a joint venture between telecommunications company […]
Myanmar to use US$1 billion loan for infrastructure projects
September 18, 2019 by
Economic development, agriculture, electricity, and infrastructure projects will be the focus of a framework for loans between South Korea and Myanmar. On September 3, Union Minister for Investment and Foreign Economic Relations U Thaung Tun and South Korea’s Minister for Foreign Affairs Ms Kang Kyung-wha signed the framework agreement under which South Korea will provide […]
KB Kookmin Bank to provide home loans to low income households
September 17, 2019 by
South Korea’s KB Kookmin Bank will participate in developing a government-funded residential complex for low income households in Yangon, Kim Chang-woo, chief representative of KB Kookmin Bank Yangon Representative Office, told The Myanmar Times. KB Kookmin Bank and Yangon Region Government signed a Letter of Intent to support the project during South Korean President Moon […]
Invitation for Bids – Yangon Mandalay Railway Improvement Project Phase II, Deadline: 18th October, 2019
September 4, 2019 by
The Republic of the Union of Myanmar Yangon Mandalay Railway Improvement Project Phase II Invitation for Bids Date: 4th September 2019 Loan Agreement No: MY-P26 dated 29th March 2018 IFB No: IFB-MR/BD/2110 The Government of the Republic of the Union of Myanmar has received a loan from Japan International Cooperation Agency (JICA) towards the cost […]
Myanmar initiates low-cost housing for squatters in Yangon
August 30, 2019 by
Myanmar’s Yangon regional government has initiated a project of developing apartments on state-owned land to tackle the issue of squatters and the project will be implemented in September, according to the office of the regional government on Wednesday. “The regional government will offer a long term installment payment plan to squatters to help them purchase […]
Growing mobile penetration gives Myanmar fintech a big boost
August 26, 2019 by
Financial technology services in Myanmar have boomed following an increasing number of mobile users, according to a report from Fitch Solutions Macro Research. The rise in mobile subscribers began after the government opened up the telecommunications sector in 2014, though enforced supportive regulations and point-of-sale (POS) payment solutions are still lagging behind. Fitch Solutions, a […]
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