Japan signs agreement to give ODA five projects in Burma

21-Jan-2017 Intellasia | Elevenmyanmar | 6:00 AM Print This Post

Japan signed an agreement in Nay Pyi Taw on January 18 to provide Official Development Assistance (ODA) to Myanmar for five projects worth $824 million (Yen 93.97 million), according to the Japanese Embassy in Myanmar.

The ODA is set to be used for the renovation and maintenance of Yangon-Mandalay railroad, the water supply in Yangon Region, the electricity supply to major cities, the agriculture sector and rural development.

The Japanese government also plans to allocate $210 million to infrastructure projects to help reduce poverty, ensure transportation access, supply electricity and water and benefit the lives of rural people.

Japan will give $219 million out of the total $824 million to upgrade the Yangon-Mandalay railroad project, including renovation of railroads between Yangon and Taunggu, installation of modern equipment and the purchase of new coaches.

Another $219 million will be used for a water supply project in Yangon Region, and $43 million to distribute electricity to the major cities. The renovation and maintenance of power cable connections are included in the electricity supply project.

Moreover, $133 million will be spent on the agriculture sector and rural development through the Myanmar Agricultural Development Bank.

The agricultural loan projected is also aimed to provide mid and long-term loans for farmers and to upgrade the capacity of banks.

http://www.elevenmyanmar.com/local/7491

 


Category: Regional

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