Parliament approves Korean-funded bridge
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Myanmar Parliament last week unanimously approved the proposal to build a bridge linking Dala Township and the city of Yangon, with a loan from South Korea's Economic Development Cooperation Fund (EDCF).
EDCF will loan US$137 million to construct the $168-million bridge, which is expected to boost development in Twante, Kawhmu and Kungyangon townships in Yangon Region.
The interest rate is 0.01 per cent. The lending period is 25 years including 15 years of grace period. The bridge is expected to start this financial year and finish by 2019-20.
