ADB offered loan for tourism sector
Asian Development Bank (ADB) offered around $45 million loan to the tourism authorities in Myanmar to develop its booming tourism industry, according to the local newspaper The Myanmar Times.
Though the disbursement is set to begin in 2018, the ministry of hotels and tourism still has doubt on its ability to handle the loan on its own.
As the loan amount is too big, an official from the ministry said the ministry is negotiating with the other tourism related ministries on how much spending should be accepted by the ministries and where they should be used for the development of the country’s tourism industry, which has a huge potential.
But the operators from the industry suggest the government to increase the ability to monitor tourist trends, to provide detail data that could guide tourism firms on where best to put funds to work and to build the necessary infrastructure to allow people to visit more destinations and lower costs.
Ref: The Myanmar Times