Myanmar will collaborate with Singapore-based Infrastructure Asia (Infra Asia) to advance the implementation of priority infrastructure projects under Myanmar Project Bank

The Ministry of Planning, Finance, and Industry (MOPFI) will advance the implementation of priority infrastructure projects under the Myanmar Project Bank in collaboration with Singapore-based Infrastructure Asia (Infra Asia), said Daw Thway Thway Chit, director general of the Planning Department under the MOPFI.

An agreement between the two parties was signed on May 27, under which the MOPFI and Infra Asia will jointly identify selected priority projects for potential private sector participation.

Infra Asia was established by Enterprise Singapore and the Monetary Authority of Singapore to support infrastructure financing and development in the region.

It aims to connect different parties and serve as a one-stop platform for the information exchange and sharing of best infrastructure practices in Asia. Such efforts will help regional governments better develop, finance and execute their infrastructure projects by leveraging on the expertise offered by its pool of partners comprising international companies and financial institutions.

Infra Asia is now working with the New Yangon Development Company Limited (NYDC) to share institutional, technical knowledge and international best practices in the development of the New Yangon City, a 90-sqkm development to the west of central Yangon.

Infra Asia also worked with NYDC to scope the evaluation for the development of power supply and distribution, natural gas supply and distribution, and cyber connectivity infrastructure under Stage Two of the New Yangon City Phase 1 infrastructure projects.

The Myanmar Project Bank is a government platform set up to facilitate the effective, coordinated and transparent identification and financing of major investment projects in Myanmar. The publicly accessible web portal for the Project Bank is expected to be regularly updated to include a comprehensive list of nationally strategic infrastructure.

So far, the government has listed 58 national development projects in the Myanmar Project Bank.

(The Myanmar Times: https://www.mmtimes.com/news/myanmar-collaborate-singapore-advance-infrastructure-projects.html )

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