Myanmar and Japan signed yesterday the four Exchange of Notes for four loan projects, which will be implemented with the loan worth about 120,915 million Yen, according to the Embassy of Japan in Yangon.

The four projects are: Yangon Sewerage System Development Project in Yangon, Urban Development Project for the reduction of traffic congestion and the damages affected by the flood in Yangon, the Power Distribution Improvement Project in Yangon and Mandalay and Providing funds to the Regional Infrastructure Improvement Project in Chin, Rakhine, Mon and Kayin states and Taninthayi Region.

A press release of the embassy stated that these projects are part of the implementation of the commitment of 800 billion Yen private-public assistance, which Prime Minister Shinzo Abe stated during the meeting with State Counsellor Daw Aung San Suu Kyi in November 2016, within five years.

The exchange of Notes for the projects was signed in Nay Pyi Taw yesterday by Ambassador of Japan Mr Maruyama Ichiro and Deputy Minister for Planning, Finance and Industry U Maung Maung Win.

Under the Yangon Sewerage System Development Project in Yangon which is estimated to cost about 45,900 million Yen, funds will be provided to expand waste water treatment plants, to construct sewer pipes and to improve the living environment of local residents in the central business district of Yangon, where about 10% of Myanmar’s population reside.

The second project namely Urban Development Project for the reduction of traffic congestion and the damages affected by the flood in Yangon is estimated to cost about 24,085 million Yen

This project will provide funds to improve drainage, take measures against traffic congestion at level crossings on main roads and Yangon Circular Railway Road in Yangon, the largest city of Myanmar which has high economic growth.

It is estimated that the third project: the Power Distribution Improvement Project in Yangon and Mandalay to cost about 12,288 million Yen.

This project will provide funds to repair and expand the electricity distribution network to improve the power supply in Myanmar’s major commercial cities, Yangon and Mandalay.

The fourth project: Providing funds to the Regional Infrastructure Improvement Project in Chin, Rakhine, Mon and Kayin states and Taninthayi Region is expected to get funds amounted to 38,642 million Yen.

—GNLM

Photo: Supplied

Ref; The Global New Light of Myanmar