JICA provides loan agreements for Myanmar Rail and Electricity construction projects
The Japan International Cooperation Agency (JICA) and Myanmar’s government on Tuesday agreed to official development assistance (ODA) loans to contribute to economic and social development through improvements to the railway system and electricity supply.
JICA signed the loan agreements with the government to provide the ODA loans of up to a total of ¥47.94 billion (US$341 million) for the two projects. ¥40.6 billion will be used for the first phase of the Yangon-Mandalay Railway Improvement Project and ¥7.33 billion go to the third phase of 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 modernising the existing railway and related facilities from Yangon to Toungoo 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 Thilawa 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 economic and social development. The project is expected to be completed in 2024.
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