1. On March 31, 2020, H.E. Mr. MARUYAMA Ichiro, Ambassador Extraordinary and Plenipotentiary of Japan to the Republic of the Union of Myanmar, and U Tun Tun Naing, Permanent Secretary, the Ministry of Planning, Finance and Industry, exchanged notes concerning the two Yen loan projects; the Project for Yangon-Mandalay Railway Improvement Project (Phase 1) (III) and Infrastructure Development Project in Thilawa Area (Phase 3), worth forty-seven billion nine hundred and forty-three million Japanese Yen (approximately 445 million USD).

2. Outline of the Projects
(1) Yangon-Mandalay Railway Improvement Project (Phase I)(III)
This project aims to improve Yangon-Mandalay Railway (about 620 km, Double-track section), which links between Yangon and Mandalay, via Nay Pyi Taw. After Phase I (I) and (II), this project will continue to repair, modernize deteriorated facilities and equipment and procure the new train cars for the Yangon-Taungoo rail section. By the improvement of this rail sector, it is expected that the operating trains per day will be increased up to about 160 services from about 30 services and the operating hours will be reduced from seven hours to about three and half hours, between Yangon and Taungoo rail section, in 2027 (after 4 years of project completion). Moreover, this project will ensure the safe and high speed train operation and increase the transport capacity of passengers and freight trains, and then will contribute to the socio-economic development of Myanmar. The maximum amount of the project is forty billion six hundred and four million Japanese Yen.

(2) Infrastructure Development Project in Thilawa Area (Phase 3)
This project aims to upgrade 50 MW Thilawa Thermal Power Plant, which was built by the assistance under Phase I, as the Combined Cycle Power Plant (Increased by 25MW of power generation). Foreign businesses, especially Japanese companies, have been expanding their business and increasing their activities strongly in Yangon and the electricity demand in the region is an urgent matter to be solved. This project aims to enhance power generation capacity and stabilize power supply, and then to support the socio-economic development of Myanmar. The maximum amount of the project is seven billion three hundred and thirty-nine million Japanese Yen.

3. These projects include in the project list of Japanese Yen 800 billion assistance by public-private sectors of Japan, which Mr. ABE Shinzo, Prime Minister of Japan pledged to Daw Aung San Suu Kyi, State Counsellor of the Republic of the Union of Myanmar in November 2016 to provide within five years.