1. On March 26, 2015, in Nay Pyi Taw, H.E. Mr. Tateshi HIGUCHI, Ambassador of Japan to Myanmar and H.E. Dr. Lin Aung, Deputy Minister for Finance, signed the Exchange of Notes for 2 ODA Loans projects. The total amount of the projects amounts to 35,178 million Japanese Yen (approx. 300 million US dollars).

2. Details of the projects are as following: (1) National Power Transmission Network Development Project Phase I (JPY 24,678 million) - This project aims at increasing power transmission capacity to Lower Myanmar by upgrading two substations in Meiktila and Taungoo, which consists of national power grid network.
(2) Communiation Network Improvement Project (JPY 10,500 million) - This project aims at enchancing core communication network among three main cities: Mandalay, Nay Pyi Taw and Yangon (including Thilawa) and international gateway, and at improving telecom network in Yangon city and internet connection.

3. Those loans will be provided with interest rate 0.01% per annum, 40 years repayment period (including a 10-year grace period).

4. The Embassy of Japan believes those ODA loans project will contribute to the social and economic development of Myanmar and thus improve people’s livelihoods.