20.11.06JICA Signs ODA Loan Agreement with Myanmar on Two Projects

The Japan International Cooperation Agency (JICA) has signed loan agreements with the Myanmar government in Naypyidaw, to provide Japanese ODA loans of up to a total of 42.779 billion yen for the following two projects.

(1)    East-West Economic Corridor Highway Development Project (New Bago-Kyaikto Highway Section) (Loan amount: 27.779 billion yen)
The project is to construct a new bridge (New Sittaung Bridge) and upgrade the related facilities to ensure efficient transportation and better logistics in Bago-Kyaito section of the East-West Economic Corridor (an international trunk road connecting Vietnam, Thailand and Myanmar).

(2) Project for the Development of Finance for Small and Medium-sized Enterprises (Phase 3) (Loan amount: 15 billion yen)

The project aims to improve financial intermediation and to maintain and increase production and investment for small and medium-sized enterprises (SMEs), by providing funds to the SMEs through the participating financial institutions (PFIs) and strengthening the capacity of PFIs. This will contribute to mitigation of the economic impact of COVID-19 and to inclusive development of the country’s industry, as well as creating stable employment.