IFC to cooperate with Myanmar government to generate full electricity

The U.S.-based International Finance Corporation (IFC) will cooperate with the Myanmar Government to provide full electricity, which is urgently needed to create the job opportunities that will boost development of the country’s economic sector, according to an IFC report.

“The electricity distribution system will greatly increase the prospects for boosting the economic and social sectors. We are going to work with the government to implement major hydro power projects so that all Myanmar people will soon enjoy full electricity,” said Jim Yaung Chaing, IFC’s vice-president and CEO.

The vice-chairperson of the World Bank’s East Asia and Pacific region said that in Myanmar, only one out of four people now receives electricity. The upgrading of power distribution could be provided to the economic sector under both public and private ownership, he said.

The World Bank official added that, if the government would supply full electricity across the country, village development would increase and every citizen would find new job opportunities. If rural regions could enjoy full electricity, poverty would be reduced and job opportunities for rural people would follow.

The reason the entire nation cannot currently enjoy full electricity is that hydro power plants cannot produce full electricity and power generated by natural gas is subject to restrictions.

The power demand in Myanmar is being decreased by about 30 percent.

source: Eleven Myanmar

http://elevenmyanmar.com/business/4620-ifc-to-cooperate-with-myanmar-government-to-generate-full-electricity