MoPFI discusses ADB loans for COVID-19

Union Minister for Planning, Finance and Industry U Soe Win held a virtual meeting with Asia Development Bank’s Country Director Mr Newin Sinsiri and team yesterday. During the meeting, they discussed ADB’s COVID-19 Pandemic Response Option (CPRO) which entails loaning US$250 million to Myanmar as budget support, steps to acquire this loan, designing a Country Engagement Framework for Myanmar, and ADB’s collaboration with the International Monetary Fund, World Bank, and JICA for Myanmar’s COVID-19 measures.
Present at the meeting were MoPFI’s Deputy Ministers U Set Aung and Dr Min Ye Paing Hein, and ADB and government officials. The Pyidaungsu Hluttaw passed the proposals to acquire two separate loans of $ 60 million and USD30 million from ADB for the Enhancing Financial Access Through Public Credit Guarantee Scheme Project and the Additional Financing to Greater Mekong Subregion Health Security Project, respectively.
Both projects will contribute to the action plans of the COVID-19 Economic Relief Plan. —MNA (Translated by Zaw Htet Oo)

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