English
Asian Development Bank (ADB) has provided USD $ 484 million loan for the new Greater Mekong Sub-region expressway
The Asian Development Bank (ADB) has approved US$483.8 million loans to construct a 64-kilometre long new expressway connecting Kyaikto township in Mon state and Bago region. It is aimed at supporting the development along the Greater Mekong Sub-region (GMS) east-west economic corridor.
“The Second GMS Highway Upgrading Project will help the government build the four-lane, climate-resilient expressway and help ensure more efficient, safer movement of goods and people along the GMS economic corridor,” said Shihiru Date, the ADB Senior Transport specialist.
“This project will help strengthen the connectivity between Myanmar and other countries as well as Thailand along the GMS corridor. It will also promote trade, tourism, and investment as well as climate resistance and environmental sustainability,” he added.
Myanmar Government aims to increase the investment in transport infrastructure up to 3 per cent of GDP by 2030, up from an average of 1 per cent from 2005 to 2018.
This project will help improve the ability of the Ministry of Construction to manage the country’s major toll highways and implement social and environmental safeguards. It will include a new community-based road safety programme for villagers along the Bago–Kyaikto corridor. The express road will also have a 2.3-kilometre long bridge to cross the Sittaung River.
The Japan International Cooperation Agency (JICA) will provide a $254.8 million loan to construct the Sittaung River.
Since 2012, ADB has mainly supported Myanmar transport sector with a focus on GMS corridors and rural-urban links.
ADB was established in 1966, and it has 68 members 49 of which are from within the region. —GNLM (Translated by Hay Mar)
Source: https://www.gnlm.com.mm/adb-provides-484-mln-loans-for-greater-mekong-sub-region-expressway/