July 28, 2020
K-500 banknote
Deputy Governor of the Central Bank of Myanmar U Soe Min explained the circulation of new 500-kyat banknote.
He also quoted the Section 66 of the Central Bank of Myanmar, which defines that the CBM needs to report the closest Pyidaungsu Hluttaw session about circulation of new currency notes with approval of the government. The Pyidaungsu Hluttaw Speaker announced the parliamentary approval on the discussions.
Loan from Unicredit Bank
Deputy Minister for Transport and Communications U Thar Oo and Deputy Minister for Planning, Finance and Industry U Maung Maung Win reported Euro0.861 million grant and Euro4.876 million zero-interest loan from the Unicredit Bank, proposed by the President, for implementing infrastructural project of electronic mailing and e-IDs for the country’s population registry.
The Pyidaungsu Hluttaw Speaker invited the list of MPs who want to debate the issue, and set the date on 5 August.
ADB Loan for rural electrification
Deputy Minister U Khin Maung Win and Deputy Minister U Maung Maung Win also reported US$171.27 million loan from the Asian Development Bank, proposed by the President for implementation of rural electrification project.
Deputy Minister U Khin Maung Win said the loan could benefit 400,300 households, out of 10,884,695 across the country, and help to increase nationwide power consumption for each household up to 84.62 per cent.
The loan will be used only for constructions of 66 kV and 33 kV substations and instalment of 11kV power lines and construction of 11/0.4 kV transformers will be constructed with Union budget, Region/State budgets, and loans from World Bank, JICA, ADB and KfW. Meanwhile, 400 volt power lines will be installed with the funds of respective villages.
The annual power generation would increase from 160 to 290 million units. Deputy Minister U Maung Maung Win reported that if the Hluttaw has approved this proposal, then the MoPFI will take part in the loan process for negotiation in signing contract, activation of loan agreement and facilitating in loan procedures.
The proposal was unanimously agreed by the Hluttaw.
Public Debt Management Bill
Secretary of Pyidaungsu Hluttaw Joint Bill Committee Dr Myat Nyana Soe reported the second amending bill on Public Debt Management Law.
Deputy Minister U Maung Maung Win sought the parliamentary approval for the whole bill, and it was passed by the Hluttaw.
ADB loan for Bago-Kyaikto Highway
Members of Parliament discussed the $483.8 million loan from ADB, proposed by the President, for implementation of Bago-Kyaikto Highway.
Major Zwe Nay Zaw discussed the project ensures the national interest; MP U Sai Aung Kyaw from Kehsi constituency supported the project with its benefits. The other 8 MPs also discussed the proposal.
JICA Loan for Bago-Kyaikto Highway
The MPs also discussed Japanese Yen 27.779 billion loan from the JICA, proposed by the President, for Bago-Kyaikto Highway. The 5 MPs debated the proposal.
ADB loan for COVID-19 response plan
The five MPs then discussed $250 million loan from the ADB, proposed by the President, for the COVID-19 impact response and expenditures.
The 7th day meeting of Pyidaungsu Hluttaw will convene on 29 July.—Aung Ye Thwin, Aye Aye Thant(Translated by Aung Khin)
