Japanese Government provides over $ 1 billion in loans for four urban development projects

The Japanese government signed an agreement on January 21 to provide loans for four sectors of urban development, worth more than $ 1 billion.

These are four projects to be implemented in Yangon, Mandalay, Tanintharyi Region, Chin, Rakhine, Mon and Kayin state. It is borrowed under the Japanese Development Fund ( ODA ).

They are the project for development of Yangon's sewerage system, infrastructure improvement projects in some regions and states, urban transport and communication project and development for electricity distribution Project in Yangon and project.

The loan is part of an agreement under the incumbent Japanese government that has provided $ 8 billion in loans. The loan will inject over $ 420 million for urban areas wastewater treatment program in Yangon and over $ 350 million for electricity and water supply and bridge construction in Chin, Rakhine, Mon and Taninthari region. The $ 220 million loan for urban transport and communication development projects will be used to resolve Yangon traffic congestion and vehicles safety.

Yangon and Mandalay power distribution project will spend $ 112 million.

Written by iMyanmarHouse.com team

Credit: iMyanmarHouse.com