Pyidaungsu Hluttaw approved to borrow 1.4 billion baht from Thailand’s Neighbouring Countries Economic Development Cooperation Agency (NEDA) to reduce power shortage in Yangon

The Pyidaungsu Hluttaw has approved the borrowing of 1.4 billion baht from Thailand’s Neighbouring Countries Economic Development Cooperation Agency (NEDA) to supply more electricity in Yangon Region.

With this loan, the Ministry of Electricity and Energy will make sure that Yangon’s power distribution system is improved and the frequency of power shortages reduced, said deputy minister U Tun Naing. 

The project term is from 2020 to 2022 and power plants and transmission lines will be built and upgraded in North Dagon, North Okkalapa and Shwepaukkan in Yangon. Currently, many townships in Yangon are experiencing blackouts every day.

The interest rate for the loan is 1.5 percent per year and the loan term is 30 years. According to the agreement, 50pc of the contract’s value must be used for buying products and services from Thailand under an official tender system.

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