Myanmar seeks loans from Italy, ADB

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Reuters A worker walks past inside the Asian Development Bank (ADB) headquarters in Manila June 17, 2009. REUTERS/Cheryl Ravelo

YANGON (Xinhua) – Myanmar’s Union Parliament is discussing to seek approval for loans of 30 million euros from Italy and $40.5 million from the Asian Development Bank (ADB) for electrification and agricultural projects. The Italian interest-free soft loan is for provision of electricity in the form of solar home system and mini-grid system to the hardly accessible Chin state and its neighboring areas while ADB loan will be used in 14 townships in Central Myanmar for the production of agricultural products that meet the ISO 17025 standards, which will help penetrate the foreign markets.

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