Tendersinfo keep you informed about the latest events in the national and international Procurement Industry. Procurement News provides in-depth coverage of the procurement industry, including contract awards, contract additions, new contract wins, mergers and acquisitions. Tendersinfo through its tender news section provides an update on all domestic and global tendering opportunities, invitation to bid & trade leads.
Myanmar : Pyidaungsu Hluttaw approves loans from EDCF, IDA, ADB on final day of 16th regular session
Publish Date : 01-Jun-2020
PYIDAUNGSU Hluttaw brought down the curtain on its 16th regular session yesterday, approving the international loans for the ministries.
The Hluttaw first approved the reshuffle of Pyidaungsu Hluttawâ€™s Joint Committee on ASEAN Inter-Parliamentary Assembly, and also took records of the bylaws on 5th amendment of electoral laws for Pyithu Hluttaw, Amyotha Hluttaw and State/Region Hluttaws.
Approval of EDCF loan
Deputy Minister for Construction Dr Kyaw Lin and Deputy Minister for Planning, Finance and Industry U Maung Maung Win discussed a proposal for US$20 million loans, put forward by the President, from the Economic Development Cooperation Fund for expansion of Myanmar-Korea Friendship Bridge (Dala) construction project as they said that it will help reduce travel time between downtown Yangon and its suburban town across the river to connect Ayeyawady delta towns.
The Pyidaungsu Hluttaw approved the proposal of loan for the project which is expected to complete in October 2022.
Approval of Unicredit Bank loan
Union Minister for Labour, Immigration and Population U Thein Swe and Deputy Minister for Planning, Finance and Industry U Maung Maung Win discussed a proposal for Euro 33 million loan, presented by the President, from the Unicredit Bank of Austria for implementing electronic registration of population. The Hluttaw approved the loan proposal.
Approval of IDA loan
Deputy Minister for Agriculture, Livestock and Irrigation U Hla Kyaw and Deputy Minister for Planning, Finance and Industry U Maung Maung Win discussed a proposal for the $200 million loan, sent by the President, from the International Development Association of the World Bank for the Myanmar National Food and Agriculture System Project.
The Hluttaw gave the green light to the proposal.
Approval of ADB loan
U Saw Tun Mya Aung from Papun constituency, MP Dr Khin Sithu from Loikaw constituency and MP U Ar Moe Si from Khaunglanphu constituency discussed a proposal to get $30 million loan, submitted by the President, from the Asia Development Bank for the Greater Mekong Subregion Health Security Project and the upgrade of healthcare services in the crisis of pandemics.
After the explanations of Union Minister for Health and Sports Dr Myint Htwe and Deputy Minister for Planning, Finance and Industry U Maung Maung Win, the Hluttaw decided to approve the proposal. The Pyidaungsu Hluttaw also passed a bill to draw up and submit budget for State/ Region governments. The 16th regular session of Pyidaungsu Hluttaw was concluded after seven meetings in two weeks.