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Japan to loan half a billion dollars to Myanmar

Tokyo - Japan will provide Myanmar with loans of 60 billion yen (585 million dollars) to help it improve its infrastructure, Japanese media reported Thursday.

Japanese Prime Minister Shinzo Abe was expected to pledge the loan when he holds talks with Myanmar President Thein Sein over the weekend, the Kyodo News agency reported, citing an unnamed government official.

The amount comes on top of more than 90 billion yen in loans and grants pledged by the Japanese premier during his visit to Myanmar in May, bringing Japan’s economic aid to more than 150 billion yen.

The report said the assistance was also aimed at limiting China’s moves to boost relations with Myanmar, and helping Japanese companies to make inroads into the country’s still undeveloped market, the report said. Abe and Thein Sein were expected to sign a memorandum of understanding on Japanese support for Myanmar’s health and medical sectors, on the sidelines of a meeting between Japan and leaders of the Association of South-East Asian Nations (Asean) this weekend.


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