The Japan International Cooperation Agency (JICA) will provide $900 million in Official Development Assistance (ODA) for development projects this fiscal year to Myanmar, a top official said.
The development projects include renovating Yangon’s basic infrastructure and building the Thilawa Special Economic Zone, JICA Chairman Akihiko Tanaka said.
JICA will provide $380 million for the Thilawa SEZ project.
ODA loans are provided by Japan for longer terms with low interest rates to developing countries.
Tanaka said building roads and bridges and developing the power sector will also be on the agenda.
Currently, JICA is also chalking a master plan for the development of Yangon which will comprise over 70 projects including renovating the city’s public transport system.