Myanmar gets ADB soft loan for power grid

Myanmar power gridMyanmar has received a $60 million new soft loan from the Asian Development Bank (ADB) for the development of its electricity supply network, official media quoted Minister of Electric Power U Khin Maung Soe as reporting on October 31.

U Khin Maung Soe told the ongoing parliament session that 4 per cent of line loss or 98 million units of electricity line loss could be reduced and annual income of 6.958 billion kyat ($7.24 million) based on the selling price of 71 kyat per unit could be  earned by saving such amount of loss, reported the New Light of Myanmar.

With the soft loan, new transformers will be installed, old power lines be substituted, and aerial bundled conductors and analog meter boxes be replaced as suggested by ADB consultants.

Under the loan agreement, the pay-back period is 24 years, including an 8-year grace period and the interest rate is 1 per cent in the grace period, while 1.5 percent in the pay-back period, the report added.

The ADB has pledged to assist in Myanmar’s infrastructural development in terms of technology, finance, communication and sustainable energy. ADB President Haruhiko Kurodamade made the offer when meeting with Myanmar President U Thein Sein in Nay Pyi Taw in February. Myanmar was able to settle $512 million debt in January in 2013 long owed to the ADB.



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Myanmar has received a $60 million new soft loan from the Asian Development Bank (ADB) for the development of its electricity supply network, official media quoted Minister of Electric Power U Khin Maung Soe as reporting on October 31. U Khin Maung Soe told the ongoing parliament session that 4 per cent of line loss or 98 million units of electricity line loss could be reduced and annual income of 6.958 billion kyat ($7.24 million) based on the selling price of 71 kyat per unit could be  earned by saving such amount of loss, reported the New Light of Myanmar....

Myanmar power gridMyanmar has received a $60 million new soft loan from the Asian Development Bank (ADB) for the development of its electricity supply network, official media quoted Minister of Electric Power U Khin Maung Soe as reporting on October 31.

U Khin Maung Soe told the ongoing parliament session that 4 per cent of line loss or 98 million units of electricity line loss could be reduced and annual income of 6.958 billion kyat ($7.24 million) based on the selling price of 71 kyat per unit could be  earned by saving such amount of loss, reported the New Light of Myanmar.

With the soft loan, new transformers will be installed, old power lines be substituted, and aerial bundled conductors and analog meter boxes be replaced as suggested by ADB consultants.

Under the loan agreement, the pay-back period is 24 years, including an 8-year grace period and the interest rate is 1 per cent in the grace period, while 1.5 percent in the pay-back period, the report added.

The ADB has pledged to assist in Myanmar’s infrastructural development in terms of technology, finance, communication and sustainable energy. ADB President Haruhiko Kurodamade made the offer when meeting with Myanmar President U Thein Sein in Nay Pyi Taw in February. Myanmar was able to settle $512 million debt in January in 2013 long owed to the ADB.



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Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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