Adb and Myanmar Sign $1b Loan Deal

• Proeksa Meas
• 31 December 2015
• Construction Focus
• 1864 Views

The Asian Development Bank signed a deal with the Myanmar government in May for $1 billion in loans, investments, and guarantees directly to private companies and projects in the country until 2016.

The funds will be directed into infrastructure investment projects in areas ranging from logistics and connectivity, power generation, telecommunications and urban development, to financial sector and trade finance.

The ADB had previously provided $1b in loans for infrastructure to the public sector.

“The role of private sector investment in meeting infrastructure financing requirements and providing important expertise and technology is critical,” ADB Vice Chairman Stephen Groff said at the signing ceremony according to Myanmar Business Today.