fbpx 47913-002: MYA: Yangon Urban Renewal and District Cooling Project | Asian Development Bank

Myanmar: MYA: Yangon Urban Renewal and District Cooling Project

Nonsovereign (Private) Project | 47913-002 Status: Approved

The project comprises the revitalization of an emerging central business district in Yangon, including hotel, retail, office, and residential space; and a district cooling plant and network to serve the locality. The current project will help reduce the acute shortage of business, tourism, and residential infrastructure in Yangon, and enable commercial activity and the import of capital, skills, and technology that the country requires to transition to a modern economy.

Project Details

Project Officer
Lockhart, Robert S. Private Sector Operations Department Request for information
Country
  • Myanmar
Sector
  • Water and other urban infrastructure and services
 
Project Name MYA: Yangon Urban Renewal and District Cooling Project
Project Number 47913-002
Borrower/Company Meeyahta Development Limited
Country Myanmar
Location Yangon
Type or Modality of Assistance
7408/3137 Loan USD 35.00 million Approved
7408/64 Other USD 5.00 million Approved
Strategic Agendas Environmentally sustainable growth
Inclusive economic growth
Drivers of Change Governance and capacity development
Partnerships
Private sector development
Sector / Subsector

Energy / Energy efficiency and conservation

Water and other urban infrastructure and services / Other urban services

Gender Equity and Mainstreaming Some gender elements
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Infrastructure Finance Division 2
Responsible ADB Officer Lockhart, Robert S.
Project Sponsor(s) FIRST MYANMAR INVESTMENT
MITSUBISHI CORPORATION
Mitsubishi Estate
Yoma Strategic Holdings
Description The project comprises the revitalization of an emerging central business district in Yangon, including hotel, retail, office, and residential space; and a district cooling plant and network to serve the locality. The current project will help reduce the acute shortage of business, tourism, and residential infrastructure in Yangon, and enable commercial activity and the import of capital, skills, and technology that the country requires to transition to a modern economy.
Objectives and Scope
Linkage to Country/Regional Strategy

ADB assistance for the project is aligned with Strategy 2020 which supports environmentally sustainable, private sector-assisted development in meeting growing energy demand in the region and in addressing critical infrastructure shortages. The assistance is also aligned with the interim country partnership strategy, 2012 - 2014 as it supports environmentally sustainable development by integrating environmental considerations into projects for promoting green and climate resilient growth. The interim strategy also aims to accelerate economic growth; create income opportunities; and create a supportive environment for the private sector, in particular small and medium-sized enterprises.

The project is consistent with ADB's Energy Policy and Urban Operational Plan 2012 - 2020; both emphasize environmental sustainability and private sector participation, including specific investments in district cooling. The project is consistent with (i) the Urban Development and Water Sector Assessment, Strategy and Road Map, which emphasizes modern wastewater treatment management; and (ii) the ADB-assisted Tourism Master Plan, 2013 - 2020, which includes preservation of heritage buildings.

Safeguard Categories
Environment B
Involuntary Resettlement C
Indigenous Peoples C
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
Timetable for assistance design, processing and implementation
Concept Clearance 17 Jun 2013
Credit Committee Meeting 23 Jun 2016
Approval 20 Jul 2016
Last PDS Update 26 Jul 2016

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Safeguard Documents See also: Safeguards

Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.

Evaluation Documents See also: Independent Evaluation

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Related Publications

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