World Bank to support interest-free loan for Myanmar’s electricity sector
World Bank to support interest-free loan for Myanmar’s electricity sector
Global New Light of Myanmar, 19 Jan 2018
URL: http://www.globalnewlightofmyanmar.com/world-bank-support-interest-free-loan-myanmars-electricity-sector/
Authorities in Myanmar are implementing a five-year project for the development of the electricity sector.
The authorities will provide electricity to villages through solar power and wind energy.
Electricity generation, without connecting the towns to the grid, is being implemented by spending US$90 billion from 2016 to 2021.
The electricity project aims to expand the existing grid by adding medium- and low-voltage distribution networks and through off-grid electrification with solar and mini-grids in the rural areas.
Additionally, Myanmar’s goal is to achieve universal access to electricity by 2030.
According to the World Bank, more than 70 per cent of the population in Myanmar lacks access to electricity, so the rural area development department and the government is trying to resolve this problem.
The World Bank will support a $400-million interest-free loan for the Myanmar electricity project. Out of this, the ministry of electric power will spend $310 million to expand transmission lines, and another $90 million will be allocated to the rural development department.
The remaining monetary aid and technological assistance will be provided by the Asian Development Bank, Germany Agency for International Cooperation and Japan International Cooperation Agency.
The authorities will provide electricity to villages through solar power and wind energy.
Electricity generation, without connecting the towns to the grid, is being implemented by spending US$90 billion from 2016 to 2021.
The electricity project aims to expand the existing grid by adding medium- and low-voltage distribution networks and through off-grid electrification with solar and mini-grids in the rural areas.
Additionally, Myanmar’s goal is to achieve universal access to electricity by 2030.
According to the World Bank, more than 70 per cent of the population in Myanmar lacks access to electricity, so the rural area development department and the government is trying to resolve this problem.
The World Bank will support a $400-million interest-free loan for the Myanmar electricity project. Out of this, the ministry of electric power will spend $310 million to expand transmission lines, and another $90 million will be allocated to the rural development department.
The remaining monetary aid and technological assistance will be provided by the Asian Development Bank, Germany Agency for International Cooperation and Japan International Cooperation Agency.