Myanmar parliament approves Thai loan for Mekong corridor towns development

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Myanmar’s Union Parliament has approved borrowing a loan from the Neighboring Countries Economic Development Cooperation Agency (NEDA) of Thailand for the Greater Mekong Subregion (GMS) East-West Economic Corridor towns development project, parliament sources said Friday.

The 24.3-million-U.S.-dollars loan, sought by the Ministry of Construction and Kayin state government and passed by the 10th session of the Union Parliament held in Nay Pyi Taw Thursday, is to be used for upgrading water distribution system and waste disposal system as well as for capacity building of government employees in Myawaddy of Kayin state, Deputy Minister of Construction U Kyaw Lin told the parliament.

He added that the NEDA loan is beneficial not only for the development of Myawaddy but also the related development in tourism and industrial development sectors supporting Myanmar’s entire economy.

Read the full article at Xinhua: http://www.xinhuanet.com/english/2018-11/30/c_137641626.htm

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