World Bank Approves $140 Million Loan for Burmese Power Plant

The World Bank has approved a loan to help fund a more efficient power plant in Burma, where more than 70 percent of the population has no electricity.

The global development lender on Tuesday authorized the $140 million, interest-free loan to help upgrade the decades-old plant in eastern Mon state.

By replacing aging gas turbines, the bank hopes the plant can increase its output by 250 percent, which would cover half of the rural state’s peak demand.

The World Bank says the project …

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