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 minis
EU suspends USD 100 million of Myanmar’s Debt

EU 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
Myanmar foreign debt

Myanmar foreign debt now totals US$10.2 billion

Myanmar ended the 2017-2018 fiscal year with US$10.2 billion in foreign debt, the Joint Public Accounts Committee reported to the Union Parliament. That is an 11.5% rise from the previous fiscal year. According to the committee, China is Myanmar̵