Myanma Port Authority (MPA), Ministry of Transport and Japan International Cooperation Agency (JICA) have signed a grant agreement for a port modernisation project, JICA said.
The amount of the grant aid for the “Project for Port EDI for Port Modernisation” is ¥1.72 billion ($14.38 million), the Japanese development agency said.
JICA said the project will improve the port-related procedures, berth allocation, invoice issuance, statistics management and logistics monitoring systems of Yangon Port.
The project aims to accelerate Myanmar’s economic growth by modernising cargo handling system and operation of Yangon Port, a major cargo port of Myanmar, it added.
The total duration of the project is expected to be two years.