1. On December 23, 2016, in Nay Pyi Taw, H.E. Mr. Tateshi HIGUCHI, Ambassador of Japan to Myanmar and H.E. U Maung Maung Win, Deputy Minister for Planning and Finance, signed the Exchange of Notes for ODA Loan project. The project amounts to 31,051 million Japanese Yen (approximately 264 million US dollars). This ODA Project is announced by Prime Minister Abe to H.E. Daw Aung San Suu Kyi, State Counsellor, at the time of Summit Meeting in Vientiane, Laos, in September this year.

2. This project will assist to construct a new bridge to connect Yangon City side with Thilawa SEZ. This project aims to improve traffic and logistic network on both sides of the bridge, which is expected to contribute to increasing direct investments to Thilawa SEZ and the development of Myanmar economy.

3. The loan will be provided with the interest rate of 0.01% per annum, with 40-year repayment period (including a 10-year grace period).

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