World Bank approves $400m electrification loan
The World Bank approved a US$400 million interest-free loan to provide financing and technical assistance to help bring electricity to more than 6.2 million people in Myanmar, the bank announced on 17 September.
The loan will support Myanmar’s National Electrification Plan and was granted by the bank after it received a proposal from the Ministry of Electric Power earlier this year. But the loan program was only approved by parliament in August after several months of consideration against loan programs submitted by other ministries.
