YANGON (Xinhua) - Myanmar has obtained a loan of $80 million from the Asian Development Bank (ADB) to upgrade a highway in southwestern Ayeyawady Delta, media reported Sunday.
The loan, announced by the ADB, will be provided for upgrading a 54-kilometer section of Maubin-Pyapon road and bridges along the route as they were worst hit by Cyclone Nargis in 2008, the Global New Light of Myanmar said.
"Upgrading the Maubin-Pyapon road which traverses the southeast of the delta will dramatically improve connectivity, cut travel time, reduce transport cost and support economic development and livelihood opportunities for many poor communities," said a statement of the ADB.
The project is expected to complete by September 2018, the statement added.
ADB had provided Myanmar a loan of 60 million U.S. dollars in January this year which is being used in power sector covering installation of new transformer at sub-power stations in power supply system of Yangon, Mandalay, Magway and Sagaing regions, substitution of old power cables with new ones, installation of aerial bundled conductors at power lines and that of digital meters.