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Japan waives debts, offers fresh aid to Myanmar

Japanese Prime Minister Shinzo Abe on May 26 pledged a fresh aid of 91 billion JPY to Myanmar, while waiving the 190 billion JPY debt owed by the country in a bid to support the Southeast Asian country’s growth.
Japanese Prime Minister Shinzo Abe on May 26 pledged a fresh aid of 91billion JPY to Myanmar, while waiving the 190 billion JPY debt owed bythe country in a bid to support the Southeast Asian country’s growth.

The pledge came up following Prime Minister Abe’stalks with Myanmar President Thein Sein in Yangon. Abe’s visit toMyanmar from May 24-26 was the first made by a Japanese PM since1977.

A joint statement issued afterwards statedthat the two leaders agreed to lay "a new foundation for bilateralfriendship" by boosting cooperation in economic, political and securityfields, as well as interpersonal and cultural exchanges.

Japan will also provide a new loan worth some 51 billion JPY tohelp Myanmar develop infrastructure together with a grant andtechnical assistance worth 40 billion JPY in the fiscal 2013.

The two leaders have agreed to enhance dialogues on security andregional issues, and promote cooperation and exchange between theirdefense authorities.-VNA
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