Loans will be provided not only for ongoing low-cost housing projects in Yangon and Mandalay but also for upcoming projects to be implemented by the construction ministry, said Union Minister for Construction Han Zaw. 

Under a Japanese OAD loan plan, long-term home loans with low interest rate are being provided for housing projects that meet the loan requirements, the minister said. 

For low-income people to have the right to accommodation, loans are being provided for housing projects that meet the criteria of JICA (Japan International Cooperation Agency) and ODA loans. 

The Construction, Housing and Infrastructure Development Bank has provided K121.43 billion in construction loan, K80.87 billion in commercial loan, K24.61 billion in housing loan and K0.10 billion in employee loan totalling over K227 billion. 

The Construction, Housing and Infrastructure Development Bank gave out a total loan of over K227 billion with 10.5, 11 and 13 percent interest rates.