President Requests Approval of $298M Loan to Improve Electricity Network
President Requests Approval of $298M Loan to Improve Electricity Network
The Irrawaddy, 12 Sep 2018
URL: https://www.irrawaddy.com/news/president-requests-approval-298m-loan-improve-electricity-network.html
YANGON — President U Win Myint has asked Parliament to approve a $298.9 million loan from the Asian Development Bank (ADB) to be used to improve the electricity network in seven of the country’s states and regions.
Deputy Minister for Electricity and Energy, U Tun Naing, told lawmakers during the parliamentary session on Tuesday that the loan is expected to fund a six-year project (2019-2025) that will be implemented in Yangon, Irrawaddy, Tanintharyi and Bago regions and Mon, Karen, and Rakhine states.
He said the project aims to meet an increasing level of power consumption, to electrify rural areas, as well as to improve the existing system.
The project will include two parts: electricity transmission and electricity distribution, he explained, including a computerized electricity management and bill-collection system.
It will increase electricity distribution to 84,850 households in Irrawaddy Region, more than 151,000 households in Bago Region, 42,757 households in Mon State, 27,820 households in Karen State and 36,694 households in Rakhine State, U Tun Naing said.
The six-year project is estimated to cost a total of $308.9 million, of which $10 million will be funded by the state budget.
Deputy Minister for Planning and Finance, U Maung Maung Win, seconded the plan to loan $298.9 million from the ADB.
Deputy Minister for Electricity and Energy, U Tun Naing, told lawmakers during the parliamentary session on Tuesday that the loan is expected to fund a six-year project (2019-2025) that will be implemented in Yangon, Irrawaddy, Tanintharyi and Bago regions and Mon, Karen, and Rakhine states.
He said the project aims to meet an increasing level of power consumption, to electrify rural areas, as well as to improve the existing system.
The project will include two parts: electricity transmission and electricity distribution, he explained, including a computerized electricity management and bill-collection system.
It will increase electricity distribution to 84,850 households in Irrawaddy Region, more than 151,000 households in Bago Region, 42,757 households in Mon State, 27,820 households in Karen State and 36,694 households in Rakhine State, U Tun Naing said.
The six-year project is estimated to cost a total of $308.9 million, of which $10 million will be funded by the state budget.
Deputy Minister for Planning and Finance, U Maung Maung Win, seconded the plan to loan $298.9 million from the ADB.