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,
National debt reached USD 30 billion last year
By the end of the 2018-2019 fiscal year, Myanmar’s local and foreign debt was MMK40.8 trillion (roughly USD 30 billion), according to Myanmar’s annual debt report released last week. Speaking to parliament, U Maung Maung Win, deputy minisEU suspends USD 100 million of Myanmar’s Debt
Six European Union states have deferred debt payments from Myanmar worth nearly USD 100 million for the rest of this year to help the country’s efforts to focus on economic recovery from the COVID-19 pandemic. Reported by several media outlets last
KBZ Bank sues Yangon port for USD 220 million
KBZ Bank has filed suit against the owner of Myanmar Industrial Port over what could be the largest loan default in Myanmar history. KBZ is suing tycoon U Ko Ko Htoo and his company for unpaid debt totaling more than USD 220 million, reported Frontie
