Home MMBIZ News Gov’t Reveals Loan, Aid Utilisation Figures

Gov’t Reveals Loan, Aid Utilisation Figures

Myanmar has received $1.47 billion out of the promised $2.95 billion grant aid over the past four years as of December last year and the aid was used for 562 projects, official data showed.

According to the data presented by the Ministry of National Planning and Economic Development to the Central Committee for Management of Foreign Aid and Grant, the 562 projects covered fields such as education, health, agriculture, communication, transport, electricity and disaster risk reduction.

The data also shows that over the past four years, Myanmar has used $150.73 million of the promised $3.85 billion foreign loan for transport, agriculture, water supply, construction, health, financial, communication, education and rural development, and the rest is being used in ongoing projects and those projects under negotiation.   

President U Thein Sein, who chaired the committee, called for effective use of the foreign aid for short- and long-term development tasks, urging officials at various levels to monitor the use of the foreign aid and loans to ensure they are utilised in a transparent manner.

- Advertisment -

Must Read

Myanmar to introduce paper gold

Yangon Gold Enterpreneur Association (YGEA) is working on innitiating Paper Gold scheme, which allows people to trade gold using the gold certificate issued by...