April 25, 2017
(From Left: Dr. Maung Maung Kyaw, Chief Engineer of EPGE, U Khin Maung Win, Managing Director of EPGE, Daw Nwe Nwe Win, Director General of Treasury Department, Mr. Masayuki Karasawa, Chief Representative of JICA Myanmar Office, Daw Ni Ni Than, Director of Treasury Department, Mr. Mamoru Sakai, Senior Representative of JICA Myanmar Office and Mr. Takehiro Yasui, Director of SEAD-4, JICA HQs)
On April 25, Japan International Cooperation Agency (JICA) signed the Loan Agreement of Japanese ODA Loan with the Republic of the Union of Myanmar to provide concessional loans 10.787 billion Japanese Yen (approximately USD 97 million) in order to implement the Hydropower Pants Rehabilitation Project.
According to National Energy Policy (2014) by the Government of Myanmar, the Government recognizes that provision of reliable electric power generation is the priority for sustainable economic development and for poverty reduction. In addition, the Economic Policy announced in July 2016 lists the quick development of the basic economic infrastructure such as electricity as one of the top policy targets.
"Hydropower Plants Rehabilitation Project" aims to reduce the unplanned power outage and to extend life of the power plants by rehabilitating the equipment of Baluchaung No.1 Hydropower Plant and Sedawgyi Hydropower Plant, thereby contributes to improvement in power supply for Myanmar. Rehabilitation of Sedawgyi and Baluchaung No.1 Hydropower Plants are among the proposed priority projects in the National Electricity Master Plan in 2014.
JICA, as a long-standing friend of Myanmar, will continue to provide as much assistance as possible, in terms of both quality and quantity, to accelerate economic growth and social development in Myanmar, by using every means of our assistance.
Terms and Amounts of Loans
|Project title||Amount (JPY million)||Annual interest rate (%)||Repayment (years)||Grace period (years)|
|Hydropower Plants Rehabilitation Project||10.787||0.01||0.01||40||10|