A US$100 million loan from the World Bank Nay Pyi Taw, 2 July— A US$100 million loan from the World Bank ment were discussed at the Pyidaungsu Hluttaw session on Wednesday, with a Union budget report for the second six-month period from October to March presented by the Union minister for Finance.
Regarding the Green Project aimed at developing the living standard of rural people and poverty alleviation that was started as a pilot project in 1,150 villages, Deputy Minister for Livestock, Fisheries and Rural Development said the government will inject K34.5 billion from the budget for 2014-2015 FY, allowing K30 million to each village.
Implementation of the project will be of great benefit to over 300,000 households in rural regions, thereby contributing towards job creations, he added. One of the clarifications made by Union Minister U Win Shein and Dr Kan Zaw and Deputy Minister U Ohn Than at the parliamentary session was the World Bank’s $100 million loan to the Ministry of Agriculture and Irrigation to implement four irrigation projects in the country.
The deputy minister also elaborated on IFAD’s loan to the ministry for a comprehensive agriculture development project, seeking the parliament’s green light for receiving loans from the two international organizations.