Myanmar to promote renewables with ADB grant

Oct 2, 2013 - The Asian Development Bank (ADB) said on Monday it would provide USD 2.85 million (EUR 2m) in financing to the government of Myanmar to help create a long-term energy plan which promotes renewables.

The funding will be extended through ADB’s Japan Fund for Poverty Reduction (JFPR) and will also help Myanmar expand and improve its power grid. According to Jong-Inn Kim, lead energy specialist at ADB Southeast Asia, the creation of a master plan will help Myanmar encourage the use of renewables and boost its focus on energy efficiency and conservation.

Through a USD-1.35m grant, ADB will collaborate with the Asian country’s National Energy Management Committee and seven line ministries to devise a 20-year energy programme that focuses on the use of renewable energy sources and energy efficiency. In addition, it will allocate USD 1.5 million of JFPR funds to provide technical aid for the development of future transmission and distribution projects in rural and urban areas.

The ADB noted that Myanmar is one of the five major energy exporters in the region. It has significant hydropower and biomass potential and good oil and gas resources. Yet, due to a lack of grid capacity investment electrification rates within the country are among the lowest in southeastern Asia.

(USD 1.0 = EUR 0.739)

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