Myanmar lawmakers complained about loopholes in the conditions of Korean loans which will be used to implement the Korean based industrial complex infrastructure project in Hlegu township

YANGON—Myanmar lawmakers have criticized loopholes in the president’s message regarding infrastructure loans from the EXIM Bank of Korea which would be a major element to the implementation of the Korean-backed industrial complex project in Hlegu Township, Yangon Region.

On Tuesday, nine lawmakers discussed the president’s message given in the Union Parliament regarding the decision to take $61.8 million in loans from the EXIM Bank of Korea for the Korea-Myanmar Industrial Complex (KMIC) infrastructure project.

According to lawmakers, the loans will be used for three infrastructure projects which would support the KMIC project: the upgrading of highway roads; building a new power plant for electricity; and constructing a new channel for a water supply. The infrastructure projects will start this year and are expected to be finished in 2021.

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