• Burmese
Saturday, December 2, 2023
No Result
View All Result
NEWSLETTER
The Irrawaddy
7 °c
Ashburn
  • Home
  • News
    • Burma
    • Politics
    • World
    • Asia
    • Myanmar’s Crisis & the World
    • Ethnic Issues
    • War Against the Junta
    • Junta Cronies
    • Conflicts In Numbers
    • Junta Watch
    • Obituaries
  • Politics
  • Business
  • Opinion
    • Commentary
    • Guest Column
    • Analysis
    • Editorial
    • Letters
  • Junta Watch
  • Ethnic Issues
  • Features
  • In Person
    • Interview
    • Profile
  • Books
  • Donation
  • Home
  • News
    • Burma
    • Politics
    • World
    • Asia
    • Myanmar’s Crisis & the World
    • Ethnic Issues
    • War Against the Junta
    • Junta Cronies
    • Conflicts In Numbers
    • Junta Watch
    • Obituaries
  • Politics
  • Business
  • Opinion
    • Commentary
    • Guest Column
    • Analysis
    • Editorial
    • Letters
  • Junta Watch
  • Ethnic Issues
  • Features
  • In Person
    • Interview
    • Profile
  • Books
  • Donation
No Result
View All Result
The Irrawaddy
No Result
View All Result
Home News Burma

Plans to Accept $79M French Loan Shelved

by Moe Moe
December 14, 2018
in Burma
Reading Time: 2 mins read
A A
Sule Pagoda and Yangon City Hall. / The Irrawaddy

Sule Pagoda and Yangon City Hall. / The Irrawaddy

8.5k
VIEWS
Share on FacebookShare on Twitter

NAYPYITAW—The Union Parliament on Thursday voted down the government’s proposal to receive loans worth 70 million euros ($79.3 million) from the French Development Agency (AFD).

Just 34 votes were in favor of the proposal and 497 against, with six abstentions despite the deputy minister for planning and finance attempting to convince lawmakers that the project would ultimately benefit Yangon residents and saying that the government has already spent almost two years preparing the project.

RelatedPosts

Junta Watch: India Comes Calling After Regime Loses Border Towns; Dictator Complains of Resistance’s ‘Excessive Force’; and More

Junta Watch: India Comes Calling After Regime Loses Border Towns; Dictator Complains of Resistance’s ‘Excessive Force’; and More

December 2, 2023
1.1k
Myanmar’s Junta Faces an Increase in Resistance Attacks in Yangon, Reports Say

Myanmar’s Junta Faces an Increase in Resistance Attacks in Yangon, Reports Say

December 1, 2023
3.9k
Pro-Junta Party Leader Assassinated in Myanmar

Pro-Junta Party Leader Assassinated in Myanmar

December 1, 2023
3.9k

The loans, according to the Yangon Region government, was to be used to upgrade parks and markets, build car parking facilities, develop riverfront areas, conserve cultural heritage sites and dredge the Nga Moe Yeik Creek, an undeveloped waterway in Yangon that the regional government believes could be used for public transport.

With the interest rate being low and the country getting 32 years before having to repay the debt, the loan seems to be attractive, but lawmakers have opposed the proposal because the Yangon regional government could not clarify details of how funds from the loan would be used, said Lower House lawmaker Daw Khin San Hlaing.

Lawmakers have complained that the Yangon regional government failed to provide in its proposal details about the breakdown of the budget and timeframe to be applied to each project, or their advantages.

“We need to be very careful about loans. We already have been bearing the heavy burden of debt. Some of the projects were successful, but many projects barely had an impact in spite of large sums of money spent on them,” said Daw Khin San Hlaing.

“We turned it down because [the Yangon regional government] could not present the precise data and information requested by the Parliament,” said another lawmaker Daw Yin Min Hlaing.

Lawmakers were critical of the five-year project (2019-2023) since the deputy minister for planning and finance gave details about what was to be called the Transport, Waterways and Urban Heritage Project in November.

Yangon Region lawmaker U Khin Maung Maung of the ruling National League for Democracy then complained that Yangon doesn’t even have enough street lights and that roads are potholed and become flooded when the rains come due to a failing drainage system.

As a result, the plan was shelved. Later, the Yangon Region government discussed the plans with the Joint Public Accounts Committee of the Union Parliament, which also endorsed the suspension.

Your Thoughts …
Tags: DevelopmentFranceRegion GovernmentYangon
Previous Post

Myanmar’s Economy to Slow 0.6 Percent, World Bank Says

Next Post

US House Labels Crimes Committed Against Rohingya ‘Genocide’

Moe Moe

Moe Moe

Similar Picks:

Parents Pull Children From Schools in Yangon as Myanmar Junta Troops Move In

Parents Pull Children From Schools in Yangon as Myanmar Junta Troops Move In

November 24, 2023
15.6k
Power-Drunk Junta Tries Selling Myanmar Beer at Gunpoint

Power-Drunk Junta Tries Selling Myanmar Beer at Gunpoint

September 14, 2023
12.9k
Reports of Forced Conscription by Myanmar’s Military Spark Panic in Yangon

Reports of Forced Conscription by Myanmar’s Military Spark Panic in Yangon

November 24, 2023
10.1k
Myanmar Travel Sector Mocks Junta Tourist Claim

Myanmar Travel Sector Mocks Junta Tourist Claim

September 30, 2023
7.4k
Blackouts Lengthen in Yangon as Power Crisis Worsens in Myanmar

Blackouts Lengthen in Yangon as Power Crisis Worsens in Myanmar

October 2, 2023
4.7k
Myanmar’s Junta Faces an Increase in Resistance Attacks in Yangon, Reports Say

Myanmar’s Junta Faces an Increase in Resistance Attacks in Yangon, Reports Say

December 1, 2023
3.9k
Load More
Next Post
Rohingya refugees make their way to a refugee camp after crossing the Bangladesh-Myanmar border in Palong Khali, near Cox's Bazar, Bangladesh on November, 2017. / Reuters

US House Labels Crimes Committed Against Rohingya ‘Genocide’

Boats dock on the Sai Din River in northern Rakhine State’s Buthidaung Township. / Than Maung Oo / Facebook

Tatmadaw Forcing Boat Owners to Transport Troops in Buthidaung

No Result
View All Result

Recommended

Myanmar’s Junta And Its Military Face Annihilation, Arakan Army Says

1 week ago
18.9k
Illusion of Myanmar Military’s Indispensability Has Been Shattered

Illusion of Myanmar Military’s Indispensability Has Been Shattered

4 days ago
5.3k

Most Read

  • Myanmar’s Civilian Government Takes Control of Seized Funds

    Myanmar’s Civilian Government Takes Control of Seized Funds

    shares
    Share 0 Tweet 0
  • Myanmar’s Junta Faces an Increase in Resistance Attacks in Yangon, Reports Say

    shares
    Share 0 Tweet 0
  • Pro-Junta Party Leader Assassinated in Myanmar

    shares
    Share 0 Tweet 0
  • Junta Bombardments in Myanmar’s Rakhine State Spark Mass Exodus

    shares
    Share 0 Tweet 0
  • Myanmar IDPs Stranded by Junta Troops in Northern Shan State Face a Long Walk Home

    shares
    Share 0 Tweet 0

Newsletter

Get The Irrawaddy’s latest news, analyses and opinion pieces on Myanmar in your inbox.

Subscribe here for daily updates.

Contents

  • News
  • Politics
  • War Against the Junta
  • Myanmar’s Crisis & the World
  • Conflicts In Numbers
  • Junta Crony
  • Ethnic Issues
  • Asia
  • World
  • Business
  • Economy
  • Election 2020
  • Elections in History
  • Cartoons
  • Features
  • Opinion
  • Editorial
  • Commentary
  • Guest Column
  • Analysis
  • Letters
  • In Person
  • Interview
  • Profile
  • Dateline
  • Specials
  • Myanmar Diary
  • Women & Gender
  • Places in History
  • On This Day
  • From the Archive
  • Myanmar & COVID-19
  • Intelligence
  • Myanmar-China Watch
  • Lifestyle
  • Travel
  • Food
  • Fashion & Design
  • Videos
  • Photos
  • Photo Essay
  • Donation

About The Irrawaddy

Founded in 1993 by a group of Myanmar journalists living in exile in Thailand, The Irrawaddy is a leading source of reliable news, information, and analysis on Burma/Myanmar and the Southeast Asian region. From its inception, The Irrawaddy has been an independent news media group, unaffiliated with any political party, organization or government. We believe that media must be free and independent and we strive to preserve press freedom.

  • Copyright
  • Code of Ethics
  • Privacy Policy
  • Team
  • About Us
  • Careers
  • Contact
  • Burmese

© 2023 Irrawaddy Publishing Group. All Rights Reserved

No Result
View All Result
  • Home
  • News
    • Burma
    • Politics
    • World
    • Asia
    • Myanmar’s Crisis & the World
    • Ethnic Issues
    • War Against the Junta
    • Junta Cronies
    • Conflicts In Numbers
    • Junta Watch
    • Obituaries
  • Politics
  • Opinion
    • Commentary
    • Guest Column
    • Analysis
    • Editorial
    • Letters
  • Ethnic Issues
  • Features
  • In Person
    • Interview
    • Profile
  • Business
    • Economy
    • Business Roundup
  • Donation

© 2023 Irrawaddy Publishing Group. All Rights Reserved

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.