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Japan to grant Myanmar USD602m loan  Join our daily free Newsletter

MENAFN - 20/11/2012

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(MENAFN) Japan made an offer to provide Myanmar with a USD602 million loan to be used in developing several sectors in the country, reported Xinhua News, citing the New Light of Myanmar.

The government of Myanmar would use the amount to develop the country's nationalities in border areas and to finance the construction of Thilawa Port and deep seaports, furthermore, it would be used in poverty alleviation, communications, Myanmar-host 2013 Southeast Asian (SEA) Games and 2014 Myanmar's ASEAN chairmanship.

In October, Japan said that it will clear Myanmar's overdue debt of nearly USD6 billion in January 2013.

It is worth noting that since 1988, Japan has invested USD221.25 million in Myanmar.

 






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