Myanmar parliament approves ADB loans for infrastructure development

Myanmar parliament approved to get 483.8 million U.S. dollars of loan from the Asian Development Bank (ADB) for the Ministry of Construction to implement a 62-km long Bago-Kyaikto highway project at a meeting on Wednesday.

"The soon-to-be constructed highway will serve as a new economic corridor in the eastern part of Yangon and will be as developed as the existing Yangon-Htaukkyant-Hlegu-Indakaw-Bago section," deputy minister for construction U Kyaw Lin clarified at the meeting.

Upon completion of this highway project, it will support the trade flow and socioeconomic development of the locals along the road, he added.

The parliament also approved to get 250 million U.S. dollars of loan from the Asian Development Bank (ADB) for the budget to support COVID-19 response plan of the country.