Myanmar is planning to borrow a total of US$2.3 billion from China to finance 22 infrastructural projects, including those of telecommunication, electricity and construction, according to the government’s investment projection for national projects in 2013-14.
Other areas that Chinese loans are to be
used include agriculture, finance and industry. A total of US$646
million is to be spent in those projects during the fiscal year 2013-14.
The national projects for financial
sector include a micro-credit project to provide loans for small and
medium enterprises, and establishing a SME bank. Telecom project will
distribute mobile SIM cards in rural areas across Myanmar.
Five power-line projects and a natural
gas power plant are to be funded with the loans from China.
Yangon-Mandalay new highway, public housings and other construction
projects, including those of 16 new bridges, will also be financed by
the same loan.
Also for the two large-scale low-cost
housings - Yadana and Ayeyarwun projects - in suburban Yangon, the loans
from Chinese EXIM bank will be used to cover their electrical
expenditures, according to the Ministry of Construction.
source: Eleven Myanmar
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