Signing ceremony of Loan Agreement on NEP-IT held in Nay Pyi Taw

The Ministry of Planning and Finance and the Italian Government sign a soft loan agreement for the National Electrification Plan. photo: mna

The Signing Ceremony of interest-free Loan Agreement on National Electrification Project: Off-Grid Component (NEP-IT) was held at the office of the Treasury Department under the Ministry of Planning and Finance in Nay Pyi Taw on 23 May, 2019.
The Soft loan agreement for National Electrification Plan was in collaboration with the Italian government, and which was an interest-free loan of 30 million euros and the total payment period is 28 years, including 18 years of suspense period and the payment term is 10 years.
Director-General of Department of Treasury under the Ministry of Planning and Finance Daw Si Si Pyone signed the loan agreement with Cooperazione & Development (Head), Cassa Depositi e Prestiti S.p.A Mr, Carlo Segnl at the event.
The implementation project is a period of three years from 2018-2019 FY to 2020-2021 FY and will benefit a total of 96,500 households from 1,019 villages in Chin State, Sagaing Region and Sagaing Region (Naga). The project aims to provide access to electrification with the use of home-made solar systems and mini-solar light systems.
The ceremony was attended by permanent secretaries of the Ministry of Planning and Finance and the Ministry of Agriculture, Livestock and Irrigation, invited high-ranking officials, Italian Ambassador to Myanmar Ms. Alessandra Schiavo, Cooperazione & Development (Head) and Cassa Depositi e Prestiti S.p.A Mr.Carlo Segnl.—MNA (Translated by Win Ko Ko Aung)

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