Tag: Asian Development Bank

ADB optimistic about Myanmar growth

An updated outlook report by the Asian Development Bank (ADB) predicts a return to the pre-pandemic growth rate in the next fiscal year. Although the report (titled “Wellness in Worrying Times”) sets Myanmar’s final growth for the c

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USD 480 million loan approved for new highway

The Union Parliament approved a USD 483.8 million loan from the Asian Development Bank last week to construct a highway that will eventually connect Yangon with the east coast of Vietnam. The financing will help build the Bago-Kyaik Hto Expressway, a

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ADB lends USD 171.3 million for power projects

Parliament has approved a loan of USD 171.3 million from the Asian Development Bank to fund rural electrification. The money will go towards new power generation, transmission, and distribution infrastructure meant to provide electricity to over 400,

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ADB drops growth forecast to 1.8%, WB to 0.5%

In a new forecast, the Asian Development Bank has predicted Myanmar’s economy to grow only 1.8% in 2020 as the COVID-19 pandemic wreaks economic havoc throughout the continent. The prediction came in a June update of the ADB’s annual Asia

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ADB to Improve Community Resilience, Livelihoods of Around 3,000 Villages in Myanmar

ADB announced it has approved a new USD 195 million financing package for a project that will develop climate-resilient and market-oriented infrastructure and livelihoods in 2,942 villages in Myanmar’s Ayeyarwady, Chin, Sagaing, and Tanintharyi sta

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ADB to help build all-weather rural roads in Myanmar

On November 12th, the Asian Development Bank (ADB) announced that it had approved a financing package of over USD 50 million (loan + grant) to help upgrade 152 kilometers of roads in 4 rural townships of Ayeyawady and Magway Regions. Featuring raised

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