Exchange of notes on ODA loans signed between Japan and Myanmar

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Deputy Minister for Planning and Finance U Maung Maung Win and Japanese Ambassador Mr. Tateshi HIGUCHI exchange notes after signing the ODA loans agreement.

Japanese Ambassador Mr. Tateshi HIGUCHI, and Deputy Minister for Planning and Finance U Maung Maung Win, signed Exchange of Notes for five ODA Loan Projects, which amount to approx. 93.97 billion Yen ( approx. US$ 824 million) yesterday in Nay Pyi Taw.
According to the agreement, the five projects include Regional Development Project for Poverty Reduction Phase II with Japanese Yen 23,979 million, approx. US$ 210 million, Yangon-Mandalay Railway Improvement Project Phase I (II) with Japanese Yen 25,000 million, approx. US$ 219 million, Greater Yangon Water Supply Improvement Project (Phase II)(I) with Japanese Yen 25,000 million, approx. US$ 219 million, Power Distribution System Improvement Project in Major Cities with Japanese Yen 4,856 milliom, approx. US$ 43 million and Agriculture and Rural Development Two Step Loan Project with Japanese Yen 15,135 million, approx. US$ 133 million.
All five projects are supplied with the conditions of (1) 0.01% interest rate per annum, (2) forty years of repayment period (including ten years of grace period) and (3) untied procurement.

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