JICA signs USD300m loan agreement

30 Mar 2015

The Japan International Cooperation Agency (JICA) has signed a JPY35.178 billion (USD295.24 million) loan agreement with Myanmar to finance the development of the nation’s power and communications infrastructure, Myanmar News reports. Around two thirds of the funds will go towards improving and expanding the country’s power grid, whilst the rest is to be spent on capacity upgrades in the three biggest cities, Yangon, Naypyidaw and Mandalay.