Top

World Bank approves $350 million IDA credit to improve Myanmar power generation

An electricity pylon stands on the hill near Thanlwin (Salween/ Namhkong) river in Shan State. Photo: Lynn Bo Bo/EPA

The World Bank’s Board of Executive Directors has approved a $350 million credit from the International Development Association (IDA) to increase the output and efficiency of power generation and improve the resilience of Myanmar’s electricity system to climate change and disasters, according to a press release.

The Board also approved $110 million in additional financing for the Essential Health Services Access Project, implemented nationwide since 2015.

Myanmar needs to double its current installed power generation capacity over the next five to seven years to achieve universal electricity access by 2030. The Myanmar Power System Efficiency and Resilience Project will finance the upgrade to the Ywama gas-fired power plant, improving the availability and reliability of electricity services to consumers in the Yangon region. Investments in the power plant and in transmission infrastructure will free-up electricity supply in the rest of the country and will remove capacity constraints to enable more households to connect.

The project also contributes to Myanmar’s climate change mitigation and adaption commitments under the Paris Agreement. By using highly efficient technology, the project will help reduce greenhouse gas emissions per unit of electricity produced and investments in the power network will improve the system’s preparedness against climate change and disasters.

“Myanmar has the lowest electrification rate in South East Asia with only 50 percent of households connected to the public grid. This project will help close the power supply gap in an affordable and environmentally sustainable way, thereby removing one of the key constraints to achieving Myanmar’s goal of universal electricity access by 2030,” said Mariam Sherman, World Bank Country Director for Myanmar, Cambodia and Lao PDR.

The Government of Myanmar adopted the National Electrification Plan in 2014 to achieve universal access to sustainable electricity services by 2030, drawing on World Bank analytical support provided through the National Electrification Project (NEP). To date, the NEP has delivered electricity access to 2 million people and to schools, rural health clinics and community centers by extending the public grid in over 5,000 rural villages and delivering Solar Home Systems and renewable energy mini-grids in 7,200 villages throughout the country.

More Details: http://mizzima.com/article/world-bank-approves-350-million-ida-credit-improve-myanmar-power-generation

No Comments

Sorry, the comment form is closed at this time.