Provision of Yen Loan to Myanmar (Advance Notice)
November 2, 2016
(Photo: Cabinet Public Relations Office)
1. In the meeting between Mr. Shinzo Abe, Prime Minister of Japan, and H.E. Ms. Aung San Suu Kyi, State Counsellor of Myanmar, held in Tokyo, Prime Minister Abe pledged the provision of a yen loan for the “Hydropower Plants Rehabilitation Project” (loan provision up to 10.787 billion yen). The Governments of Japan and Myanmar plan to sign an exchange of notes related to the yen loan in the future.
2. Overview of the target plan “Hydropower Plants Rehabilitation Project” (PDF)
The plan calls for renovations to outdated power generation equipment and other facilities at the Baluchaung No.1 Hydroelectric Plant and the Sedawgyi Hydroelectric Plant. This plan aims to stabilize electricity supply in Myanmar and thereby promote economic and societal development and improve the livelihoods of the people of Myanmar.
3. Terms of the loan provision
(1) Interest rate : 0.01% per annum (2) Redemption period : 40 years (including a 10-year deferral period) (3) Funding conditions : General untied