Thirty development projects in pipeline in Mandalay through fiscal 2020-21

The regional Minister for Planning and Finance, U Myat Thu told the second session of the regional Hluttaw that the development projects will be implemented in two ways; some will be carried out with loans and some will be carried out with financial support. Nineteen of the projects will be carried out with the help […]

Solar panels light up thousands of homes in Kayin State

Over 11,000 rural households in Kayin (Karen) State are set to newly receive electricity thanks to a long-awaited solar panel program. Under the National Electrification Project (NEP), the World Bank and the Department of Rural Development are installing heavily subsidized solar panels, which were sold to villagers at a fraction of the real cost. The […]

Invitation for Price Quotations for 35 Diesel Generators by Department of Rural Development. Closing Date 24 Mar 2017

Subscribe to our Tender Alert. We send out email alert on Tender and EOI as it happens. The Republic of the Union of Myanmar has received financing from the International Development Association (IDA) towards the cost of the National Community Driven Development Project (NCDDP). The IDA N° of the financing agreement is N° H814MM. The […]

CBM Net to bolster domestic bond market

The Central Bank of Myanmar’s new real time settlement system should help create a more liquid secondary market for Treasury bonds, and help banks manage their collateral, the central bank’s deputy governor said. The system’s immediate benefit to banks is saving hours of work that would be spent manually clearing and settling transactions. Central Bank […]

Shwe Rural and Urban Development Bank opens head office

Shwe Rural and Urban Development Bank opened its head office in Yangon yesterday. The lender plans to set up 25 branches over the next five years, but will conduct most of its operations through a network of countryside-based agents. The privately owned bank – headquartered on the corner of Pansodan Road and Merchant Street – […]

Mizuho Bank Open for Business

Japan-based Mizuho Bank has opened their first branch in Yangon on August 3, marking the bank’s official entrance into the country. The lender is one of the largest financial services company in Japan, with over $1.6 trillion in assets. It was one of nine international banks that received licences in October last year to operate […]

Third Japanese megabank opens local branch office

Mizuho Bank opened its Yangon branch office yesterday, becoming the third Japanese megabank with a local branch presence. The firms also signed an agreement with AYA Bank, one of Myanmar’s largest private banks, to cooperate in banking services such as cash management. The new branch is located at Sedona Hotel, with US$100 million in initial […]

SMEs Lack Paperwork Prowess, Unable to Secure loans

While the Small and Medium Industrial Development Bank (SMIDB) offered to distribute K20 billion in loans in 2014, as of now, K12 billion have yet to be distributed, owing largely to informal business practices, according to an official from the Ministry of Industry. Like all businesses in the country, SMEs need to register and pay […]

Japan to loan Myanmar over 25b yen: state-run media

[YANGON] Japan will grant Myanmar a 25.89 billion yen (S$284 million) loan as Official Development Assistance (ODA) under an agreement signed between the two countries in Naypyidaw on Tuesday, the state-run Global New Light of Myanmar reported. The loans will be spent on Yangon City electrification project, infrastructure development project in Thilawa Special Economic Zone […]

JICA to offer SME Loans

The Japan International Cooperation Agency (JICA) is planning to provide loans for small and medium- sized enterprises (SME) in Myanmar, according to the vice president for the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI). “At least Ks 3 billion is set aside for the loan fund. JICA will provide the fund […]