ADB okays US$100m loan to Yoma

Singapore

THE Asian Development Bank (ADB) has approved a loan of up to US$100 million to Singapore-listed Yoma Strategic Holdings for works relating to infrastructure connectivity in Myanmar. The ADB loan will meet the gap for long-term commercial debt for infrastructure designed to enhance connectivity, said a joint statement on Tuesday. It will be disbursed in two equal tranches, with Yoma Strategic engaging partner companies to work with it on individual infrastructure subprojects.

The first tranche will be used to build telecommunication towers, develop cold storage logistics and modernise vehicle fleet leasing; the second will fund subprojects in transportation, distribution, logistics and other sectors.