Tuesday, 4 March 2014

IFC to help improve Yangon electricity supply

The Ministry of Electrical Power and the International Finance Corporation (IFC) signed an agreement to improve Yangon’s electricity supply on February 26.

The IFC aims to help to transform Yangon Electricity Supply Board (YESB) into a corporation within three years.

“The IFC will provide financial aid in addition to technical before fully transform it into an independent corporation. They will invest in YESB as a share holder,” said IFC resident representative Mr. Vikram Kumar.

The YESB will expand its operations to provide electricity regularly to the places still not on the grid at reasonable prices. It will also try to reduce losses of electricity in the future.

source: Eleven Myanmar
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