Off the wire
• Spotlight: Li's visit inspires fresh modes of China-LatAm cooperation  • Tokyo shares gain by break on optimism over domestic firms  • UNESCO to judge management of Australia's Great Barrier Reef  • Big Australian businesses back gay marriage  • Graduate job market is more competitive: Survey  • 3rd LD Writethru: About 120 residents reach safe place after volcano eruption in SW Japan  • Spotlight: Xi's book on governance becomes hot topic at BookExpo America  • (Sports) Australia says not support Sepp Blatter's FIFA re-election campaign  • 1st LD Writethru: Japan's industrial output up 1.0 pct in April  • Australian households to be able to remotely track and monitor electricity usage  
You are here: 　 Home

Myanmar parliament approves foreign loans for rural development plans

Xinhua, May 29, 2015 Adjust font size:

Myanmar's Parliament has approved 137.83-million-U.S.-dollar loans from South Korea to be used for rural development project, parliament sources said Friday.

The loan, to be borrowed by the Ministry of Construction from the Economic Development Cooperation Fund (EDCF) of South Korea, will be used in rural development in Yangon and Ayeyawaddy regions.

The EDCF will also disburse loan of 55.874 million U.S. dollars for the expansion of high-speed fiber links between Taunggyi and Mandalay, Mandalay and Myitgyina, Dawei and Kawthoung and Magway and Sittway, under an agreement signed between the Myanmar Ministry of Communications and Information Technology and the Export-Import Bank of Korea in March.

For the past few years, South Korea has been helping Myanmar in development of a number of sectors including agriculture and its mechanization, irrigation technology, rural and socio-economic development as well as that of the health sector.

The parliament also passed a 21 million-U.S.-dollar loan from the Japan International Cooperation Agency to be used by the Ministry of Electric Power and the Ministry of Transport form power distribution project for Yangon. Endi