Myanmar to borrow $2.3b from China

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YangonMyanmar is planning to borrow $2.3 billion from China to finance 22 infrastructure projects in sectors including telecommunication, electricity and construction, according to the government’s investment projection for national projects in the fiscal year 2013/14.

Other areas where Chinese loans are to be used include agriculture, finance and industry. A total of $646 million is to be spent in these sectors during the period. The projects for the financial sector include a microcredit project to provide loans for small and medium enterprises and establish an SME bank. A telecom project will distribute mobile SIM cards in rural areas across Myanmar.

Five power-line projects and a natural gas power plant are to be funded with the loans from China. The new highway between Yangon and Mandalay, public housing and other construction projects, including 16 new bridges, will also be financed through the same loan.

Also for the 2 large-scale low-cost housing projects – the Yadana and Ayeyarwun projects in suburban Yangon -, the loans from Chinese EXIM bank will be used to cover electrical expenditures, according to the Ministry of Construction.

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Reading Time: 1 minute

Myanmar is planning to borrow $2.3 billion from China to finance 22 infrastructure projects in sectors including telecommunication, electricity and construction, according to the government’s investment projection for national projects in the fiscal year 2013/14.

Reading Time: 1 minute

YangonMyanmar is planning to borrow $2.3 billion from China to finance 22 infrastructure projects in sectors including telecommunication, electricity and construction, according to the government’s investment projection for national projects in the fiscal year 2013/14.

Other areas where Chinese loans are to be used include agriculture, finance and industry. A total of $646 million is to be spent in these sectors during the period. The projects for the financial sector include a microcredit project to provide loans for small and medium enterprises and establish an SME bank. A telecom project will distribute mobile SIM cards in rural areas across Myanmar.

Five power-line projects and a natural gas power plant are to be funded with the loans from China. The new highway between Yangon and Mandalay, public housing and other construction projects, including 16 new bridges, will also be financed through the same loan.

Also for the 2 large-scale low-cost housing projects – the Yadana and Ayeyarwun projects in suburban Yangon -, the loans from Chinese EXIM bank will be used to cover electrical expenditures, according to the Ministry of Construction.

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