Japan and Myanmar signed loan agreement for two infrastructure projects

The Japan International Cooperation Agency (JICA) and Myanmar’s government signed official development assistance (ODA) loans agreement on March 31, 2020 to contribute to economic and social development through improvements to the railway system and electricity supply.
The ODA loans of up to a total of ¥47.94 billion (K607.3 billion) for two infrastructure projects which ¥40.6 billion will be used for Yangon-Mandalay Railway Improvement Project and while ¥7.33 billion will be used for infrastructure development in the Thilawa Special Economic Zone.
The Yangon-Mandalay Railway Improvement Project is to improve the capacity of railway transportation by rehabilitating and modernizing the existing railway and related facilities from Yangon to Taungoo in part of the Yangon-Mandalay Railway thereby contributing to the economic development of Myanmar. The project’s construction work is expected to be completed by 2023.
The infrastructure development in the Thilawa Special Economic Zone is to strengthen the electricity supply capacity of Myanmar by additionally installing combined cycle facilities at the Thilawa Thermal Power Plant in the Thilawa Special Economic Zone, thereby contributing to the economic and social development. The project is expected to be completed in 2024.
JICA will continue to support Myanmar’s infrastructure, economic development and also promote private investment, infrastructure development, education and human resource development according to Sakakura Noriji, new chief representative at JICA Myanmar.

Source: The Myanmar Times