Pyidaungsu Hluttaw approved USD $ 24.3 million loan from Thailand’s Neighboring Countries Economic Development Cooperation Agency (NEDA) for implementing development projects along Greater Mekong Sub-region Economic Corridors

Pyidaungsu Hluttaw (Assembly of the Union) approved a proposal to borrow $24.3 million from Thailand’s Neighboring Countries Economic Development Cooperation Agency (NEDA) for implementing development projects in cities along Greater Mekong Sub-region Economic Corridors.

The Ministry of Construction and Karen State Government will use the loan to upgrade water distribution and waste management in the town of Myawaddy, as well as conducting public awareness program civil servants capabilities.

“We will use $11.3 million for water distribution, $7.6 million for waste management, and $2.2 million for capacity building of civil servant,’’said U Kyaw Lin, Deputy Minister of the Ministry of Commerce.

Moreover, $900 thousand from ADB Bank will be used for Joint Spatial Development Plan to balance development of the economic zones and industrial zones, which will be implemented in Myawaddy, Myanmar and Mae Sot, Thailand.

In order to implement the development projects, the government will hire a consultant team for designing the projects and procurement in 2019-2020.

The development project will be helpful for development for Myawaddy as well as economic development related to hotel and tourism development and industrial development.

(Myanmar Business Today: https://www.mmbiztoday.com/articles/myanmar-borrow-243-million-thailand-s-neda-development-mekong-economic-corridor )

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