The Myanmar government has approved a loan worth Euro 35.7 million from AFD to upgrade five hydropower plants in the country. The funds will be used over the next five years to upgrade the Ye Nwe and Zaung Tu power plants in Bago, the Mone Chaung power plant in Magwe, the Kin Tar power plant in Mandalay and the Thapan Seik power plant in Sagaing.
The proposal allocates $6 million for the repair of the Ye Nwe power plant, $3.7 million for the Mone Chaung power plant, $18.4 million for the Zaung Tu power plant, $2.2 million for the Kin Tar power plant, $7.3 million for the Thapan Seik power plant and $1.9 million for hiring a consultancy firm for the projects. The work is expected to commence in 2019 and be completed in 2024.