Home MMBIZ News Electricity Plan Seeks $670m in Loans

Electricity Plan Seeks $670m in Loans

The National Electricity Plan budget will include a loan of $670 million from the World Bank in its initial budget estimate.

In the five year period from 2015 to 2019, there are plans to run power lines to 1.5 million households who currently lack access to electricity, according to the Ministry of Electric Power (MEP).

The government will require a loan of $670 million to build a complete power transmission system to provide electricity to 1.5 million households, said U Aung Than Oo, deputy minister for electric power.

To date, the World Bank has offered $400 million to improve Myanmar’s electricity grid.

The deputy minister said the country has about 100,000 megawatt (MW) electricity potential from the main river Ayeyarwaddy, Chindwin, Sittaung and Thanlwin, although hydroelectric plans will take a long time to materialise as environmental impacts have to be studied carefully.

Myanmar’s electricity generation capacity in 2011-12 stood at 3,413MW, but the capacity has gone up to 4,714MW. according to the most recent estimates.

- Advertisment -

Must Read

Myanmar’s Foreign Direct Investment Outlook after Daw Aung San Suu Kyi...

Last Saturday, Myanmar’s Union Election Committee announced a victory for Daw Aung San Suu Kyi’s National League for Democracy (NLD) in the 2020 Myanmar...