Myanmar is seeking ¥10.5 billion ($105 million) loan from Japan for upgrading the country’s telecommunication infrastructure.
The loan for upgrading internet connection in six different categories to be sought from the Japan International Cooperation Agency (JICA) was discussed in the ongoing parliament session.
The categories to be upgraded cover installation of equipment for Yangon-Naypyitaw-Mandalay fibre network, extension of the network in Yangon, setting up metro fibre equipment, expanding bandwidth of national gateway for international communication and establishment of telecommunication infrastructure at Thilawa Special Economic Zone.
Deputy Minister for Communications and Information Technology U Thaung Tin told the parliament that while mobile telecommunication services are being operated by private companies, the state will operate landline and fax, banking network and special economic zone which needs tight security in line with related international standard.
According to the minister, JICA’s interest rate is 0.1 percent with a 10-year suspension period and 40-year settlement term.