YANGON, Feb. 2 (Xinhua) — The Asian Development Bank (ADB) and Myanmar have signed an advisory services agreement to improve transport through public-private partnership (PPP) in Myanmar.
ADB will provide strategic and transaction advisory services to support Myanmar government’s bid to identify and develop transport projects, the agency said in a release Wednesday.
“Improving Myanmar’s transport infrastructure is critical to achieving inclusive growth in the country”, said Kaga, head of ADB’s Office of PPP.
PPP is an important instrument to deliver infrastructure, and ADB is looking forward to assisting the government in developing priority transport projects that could be structures on a PPP basis to mobilize private capital flow, he said.
Myanmar Minister of Transport and Communication U Thant Sin Maung also said the improvement of transport infrastructure is a top priority for the government as it is critical to improve people’s access to markets as well as to basic services such as health and education.
According to ADB, only 40 percent of Myanmar’s road network is paved, and 20 million people – half of the rural population – have no access to all-weather roads.
Weak inland waterways and river ports, higher transport cost and associated limited access to market and services are the main causes of poverty and regional inequality in the country.