YANGON, Myanmar, Myanmar’s Union Parliament, is seeking approval for one more loan of 93.779 million U.S. dollars’ Economic Development Cooperation Fund (EDCF), from the Exim Bank of South Korea, it was reported on Tuesday.
The EDCF loan, pledged by the Korean government in Jan, is to provide government online services, to the people, with ease and data flow between government entities and businesses, Minister of Transport and Communication, U Thant Sin Maung told the parliament, at Monday’s session, adding that, the success of e-government work will develop the country’s economy.
The interest rate is 0.01 percent, with a total loan period of 40 years, inclusive of a grace period of 15 years, the minister said.
Debate on the loan will be underway, at the following days’ sessions.
Source: NAM News Network