YANGON, Dec. 4 (Xinhua) -- Myanmar's Union Parliament is seeking approval for one more loan of 93.779 million U.S. dollars' Economic Development Cooperation Fund (EDCF) from the Exim Bank of South Korea, Myanmar News Agency reported on Tuesday.
The EDCF loan, pledged by the Korean government in January, is to provide government online services to the people with ease and data flow between government entities and businesses, Minister of Transport and Communication U Thant Sin Maung told the parliament at Monday's session, adding that the success of e-government work will develop the country's economy.
The interest rate is 0.01 percent with a total loan period is 40 years inclusive of a grace period of 15 years, the minister said.
Debate on the loan will be underway at the following days' sessions.
