ASEAN KEY DESTINATIONS
Yangon transport plan will need varied funding sources, meeting told
A urban transport plan for greater Yangon will need to be funded from a variety of sources, including the government, international loans and private sector contributions, a public meeting was told on May 12.
Fines and road taxes would also need to contribute towards the cost of the Comprehensive Urban Transport Plan for Greater Yangon, or YUTRA, Mr Takashi Shoyama, a team leader from the Japan International Cooperation Agency, told the meeting at a Yangon hotel.
“Out of the total estimated long-term project costs of US$25 billion, government funds will account for $15.3 billion, with the remainder to be covered by a combination of road taxes, fines, private sector contributions and international loans,” Mr Shoyama said.
The YUTRA project is proposed to be implemented in three phases: short term (2014-2018), medium term (2019-2025) and long term (2026-2035).
Yangon Region Transport Minister U Aung Khin told the meeting that having both short and long-term plans for tackling traffic congestion was a positive step forward.
“The big increase in the number of privately-owned vehicles, and drivers refusing to follow the rules of the road, are the main causes of Yangon traffic problems,” U Aung Khin said.
The meeting was told that JICA research into traffic jams in Yangon had identified the three main causes as a lack of public transport options, illegal parking and the ineffective use of traffic lights.
The plan calls for upgrades for mass transit system and for more parking facilities.
The short term plans involve Yangon City Development Committee working with JICA on improvements to traffic management at 8 Mile Junction and building a bridge in Thaketa Township.
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