MPs are told about the World Bank loans on May 13.
MPs have been told that a US$200 million loan from the World Bank (WB) is available to fund efforts to recover from natural disasters.
The Construction Ministry asked Parliament to take out a US$105 million loan to re-build roads. The ministries of planning and finance and the agriculture wanted to take out a US$70 million loan to construct rural roads, a US$15 million emergency responses loan and US$10 million for project management activities, said Kyaw Win, planning and finance minister.
“The loan will charge no interest for 38 years,“ the minister said.
“Cyclone Komen hit last July, damaging farmland, houses, road and bridges. Repairs will be funded with the World Bank’s emergency recovery credit,” said Win Khaing, the construction minister.
The Construction Ministry is planning to reconstruct Kalay-Palaung-Hakha and Hakha-Gangaw roads in Chin State and the Ngathaingchaung-Gwa and Thandwe-Gwa roads between Rakhine State and Ayeyawady Region.
“The Ministry of Agriculture will be taking a US$70 million loan to construct roads and bridges in disaster-hit regions. The ministry will also respond better to future disasters,” said Aung Thu, minister for agriculture, livestock and irrigation.
He added that 55 bridges would be repaired in Sagaing, Bago, Magway, Yangon and Ayeyawady regions.
Speaker Mahn Win Khaing Than told MPs to apply to discuss the WB’s loans.
Source: http://www.elevenmyanmar.com/business/world-bank-offers-200m-emergency-aid
