The World Bank on September 24 approved an interest-free credit of 140 million USD for Myanmar to build a modern and high-efficiency power plant in Mon State.
The credit will be granted by the International Development Association (IDA), which specialises in providing financial packages for the world’s poorest countries.
The new plant will replace aging gas turbines with new units and is expected to have a capacity 2.5 times higher that that of the old one, using the same amount of gas.
It is part of Myanmar ’s power expansion plan and the first step to generate more electricity for the local people.
Statistics show that over 70 percent of Myanmar population have no access to electricity.
World Bank Vice President for East Asia and the Pacific Axel van Trotsengburg said providing electricity for those in need is essential to end poverty and boost development and prosperity in Myanmar, which has seen strong reforms over the past time.-VNA
The credit will be granted by the International Development Association (IDA), which specialises in providing financial packages for the world’s poorest countries.
The new plant will replace aging gas turbines with new units and is expected to have a capacity 2.5 times higher that that of the old one, using the same amount of gas.
It is part of Myanmar ’s power expansion plan and the first step to generate more electricity for the local people.
Statistics show that over 70 percent of Myanmar population have no access to electricity.
World Bank Vice President for East Asia and the Pacific Axel van Trotsengburg said providing electricity for those in need is essential to end poverty and boost development and prosperity in Myanmar, which has seen strong reforms over the past time.-VNA
