Myanmar to receive financial support from World Bank

Myanmar is set to receive $400 million from the World Bank Group to provide financing and technical assistance for Myanmar's National Electrification Plan (NEP), an official statement said on Thursday.

In Myanmar, where over 70 percent of the people have no access to electricity, bringing light to towns and villages is an urgent priority in helping people out of poverty and in powering a rapidly growing economy, the World Bank statement said.

The six-year project is expected to benefit over 6.2 million people by bringing electricity to more than 1.2 million households in Myanmar by 2021, Xinhua news agency reported.

"This $400 million project will help connect towns to the grid and turn on lights in schools, clinics and remote villages. We welcome and support Myanmar's goal to achieve universal access to electricity by 2030," said World Bank Southeast Asia Country Director Ulrich Zachau.

"The NEP will transform Myanmar by giving the people of our towns and villages access to more job opportunities, better health care and lighting for classrooms," said U Aung Than Oo of electric power ministry.

Over the course of the six-year project, the World Bank financing will also provide grid connections for 23,000 schools, clinics and community centres and 132,000 street lights will be deployed for opening village markets after dark and improving safety.