2020.11.04
On Nov. 4, the Japan International Cooperation Agency (JICA) signed loan agreements with the Government of the Republic of the Union of Myanmar in Naypyidaw, to provide Japanese ODA loans of up to a total of 42.779 billion yen for the following two projects.
(1) East-West Economic Corridor Highway Development Project (New Bago-Kyaikto Highway Section) (Loan amount: 27.779 billion yen)
(2) Project for the Development of Finance for Small and Medium-sized Enterprises(Phase 3)(Loan amount: 15 billion yen)
Details for the projects are provided below.
(1) East-West Economic Corridor Highway Development Project (New Bago-Kyaikto Highway Section)
(a) Objective and Summary
The project is to construct a new bridge (New Sittaung Bridge) and upgrade the related facilities to ensure efficient transportation and better logistics in Bago-Kyaito section of the East-West Economic Corridor (an international trunk road connecting Vietnam, Thailand and Myanmar) where the traffic demand is expected to increase rapidly in the near future. It will increase the socio-economic benefit of the people, and improve the domestic and international trade of Myanmar. The project will contribute to the achievement of SDGs Goal 9.
The project will be co-financed by the Asian Development Bank (ADB). The funds from the ODA loan will be allocated to construction of the New Sittaung Bridge and upgrading the Thuwunna Research Laboratory and Training Center Buildings, and the ADB loan funds will be allocated to construction of a new arterial road between Bago and Kyaikto, apart from the New Sittaung Bridge.
signing
(b) Executing Agency
Ministry of Construction (MOC)
Address: Building No. 11, Nay Pyi Taw, Myanmar
Phone: +95-67-407069, FAX: +95-67-407167
(c) Planned Implementation Schedule
(2) Project for the Development of Finance for Small and Medium-sized Enterprises(Phase 3)
(a) Objective and Summary
The aim of the project is to improve financial intermediation and to maintain and increase production and investment for small and medium-sized enterprises (SMEs), by providing funds to the SMEs through the participating financial institutions (PFIs) and strengthening the capacity of PFIs. This will contribute to mitigation of the economic impact of COVID-19 and to inclusive development of the country’s industry, as well as creating stable employment. The project will contribute to the achievement of SDGs Goals 8 and 9.
(b) Executing Agency
Myanma Economic Bank
Address: No.26, Thiri Kyaw Swar Street, Nay Pyi Taw
TEL:+95-67-421228 FAX:+95-67-421326
(c) Planned Implementation Schedule
| Project title | Amount (million yen) |
Annual interest rate (%) | Repayment period (years) |
Grace period (years) |
Procurement | |
|---|---|---|---|---|---|---|
| Project | Consulting services |
|||||
| East-West Economic Corridor Highway Development Project | 27,779 | 0.01 | 0.01 | 40 | 10 | General untied |
| Project for the Development of Finance for Small and Medium-sized Enterprises | 15,000 | 0.01 | 0.01 | 40 | 10 | General untied |
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