The Ministry of Planning and Finance clarified the role of the Project Bank in Myanmar Sustainable Development Plan – MSDP in Nay Pyi Taw yesterday.

Union Minister for Planning and Finance U Soe Win spoke at the event saying that the various ministries are clearly working towards national development. However, in walking towards a common objective, it is important for all endeavors to be synchronized so that the challenges can be swiftly overcome, he said. He added that the Myanmar Sustainable Development Plan – MSDP was designed to select and implement projects strategically.

The Union Minister said the MSDP and the Project Bank was implemented

with an aim to increase the financial capital in mind.

He said the most effective and publicly-beneficial projects will be placed into the Project Bank, where they will be reviewed and implemented in accordance with the MSDP while drawing funding from government funds and from the private sector and other sectors as well.

The Union Minister concluded by saying it is important for everyone to actively participate in implementing the Project Bank to ensure its success.

Next, Deputy Minister for Planning and Finance U Set Aung explained about the MSDP (2018-2030) and Project Bank while U Min Ye Paing Hein, member of the National Economic Coordination Committee (NECC) gave a detailed explanation of Project Bank’s compilation process and performances.

This was followed by the union ministers and departmental heads in attendance asking questions concerning the Project Bank with officials responding to them.

Also present at the event were Union Ministers, the Union Auditor-General, the Chairman of the Union Civil Service Board (UCSB), Chief Ministers from states and regions, the Governor of the Central Bank of Myanmar, deputy ministers, the Deputy Union Attorney General, members of the UCSB, Ministers of Finance from states and regions, Permanent Secretaries, Directors-General and departmental officials.