Home MMBIZ News Gov’t Seeks Parliament Nod for $200m World Bank Loan

Gov’t Seeks Parliament Nod for $200m World Bank Loan

The government is seeking approval from the parliament to secure $200 million in loans from the World Bank for health and valley management projects in Myanmar, lawmakers said.

The Health Ministry is planning to launch the Myanmar Essential Health Services Access Project with $100 million international development aid credit from the World Bank to provide affordable healthcare services to the public.

Another $100 million from the Washington-based international organisation will be spent on the Ayeyarwaddy Valley management project, said Deputy Minister for Transport U Han Sein.

In May, the World Bank granted $80 million for the six-year Myanmar National Community Development project in three townships of Chin and Shan states as well as in Tanintharyi region.

An Italian Development Cooperation loan worth €20 million will be spent on infrastructure projects in rural areas, said Deputy Minister for Livestock, Fisheries and Rural Development U Tin Ngwe, while the Ministry of Rail Transportation will receive $45 million from the Economic development Cooperation Fund of South Korea to produce and purchase railway carriages.

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