Japan to help Myanmar renovate power plants

Part of Japan's 50 billion yen loan to Myamnar due by March will be used to renovate power plants.

Japan is Myanmar's largest creditor and the arrears of 300 billion yen had to be cleared before a fresh 50 billion yen loan could be given.

A chunk of the 50 billion yen loan, which Japan hopes to implement by the end of March, is likely to mark the first tranche of its lending for infrastructure in Thilawa, which is to be developed by Japanese construction companies.

Thilawa is a 2,400-hectare special economic zone.

Over several years Tokyo's lending may add up to $12.6 billion, according to officials familiar with the project.

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