MoC Union Minister attends signing ceremony for GMS Corridor Towns Development Project

Union Minister U Han Zaw attends the signing ceremony of loan agreement of Third Greater Mekong Sub-Region (GMS) Corridor Towns Development Project in Nay Pyi Taw. Photo: MNA
Union Minister U Han Zaw attends the signing ceremony of loan agreement of Third Greater Mekong Sub-Region (GMS) Corridor Towns Development Project in Nay Pyi Taw. Photo: MNA

The loan agreement signing ceremony for the GMS Corridor Towns Development Project was held at the meeting hall of the Ministry of Construction in Nay Pyi Taw yesterday afternoon.
Union Minister U Han Zaw of the Ministry of Construction first said that the proposed project will upgrade basic infrastructure and strengthen urban management capacities to develop the towns of Mawlamyine in Mon State, and Hpa-An and Myawady in Kayin State along the Greater Mekong Subregion (GMS) East-West Economic Corridor (EWEC), in accord with the feasibility study reports, with the ADB’s loan US$80 million and the NEDA’s (Neighbouring Countries Economic Development Cooperation Agency) loan US$23.4 million.
The Ministry of Construction will take a leading role to implement the project as an Executing Agency (EA) and the Kayin and Mon States’ governments will perform their respective duties as Implementing Agencies (IA).
The Project Implementation Units (PIU) will collaborate with the Project Management Units (PMU) and the Consultant Agencies concerned in order to implement the project and pay back the loans.
The project will facilitate the urban development and basic infrastructure development in Myawady, which is a
major border trade town, and improve bilateral trade and economic conditions as well as enhance bilateral cooperation between the two countries, he added.
Ambassador Mrs Suphatra Srimaitreephithak, Deputy Minister U Maung Maung Win of the Ministry of Planning, Finance and Industry and NEDA Chairperson Ms Chularat Suteethom then gave their remarks at the event.
Afterwards, the ceremony was concluded with Treasury Department Director-General Daw Si Si Pyone of the Ministry of Planning, Finance and Industry and NEDA President Mr Perames Vudthitornetiraks signing and exchanging the loan agreement. —MNA (Translated by Aungthu Ya)

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