The Republic of Korea (RoK) has agreed to p rovide a 500 million USD loan for Myanmar in the period of 2013-2017 at a recent meeting of the joint committee on economic cooperation between Myanmar and the RoK in Yangon, Myanmar.

The loan will come from the RoK’s Economic Development Cooperation Fund.

At the June 19 meeting, co-chaired by RoK Deputy Prime Minister and Minister of Strategy and Finance Hyun Oh-Seok and Myanmar Minister of Planning and Economic Development Kan Zaw, the two sides discussed eight areas of cooperation, including infrastructure, services and sports.

By March this year, the RoK was the fourth biggest investor in Myanmar with 77 projects worth almost 2.98 billion USD. Two-way trade between the two countries reached over 573 million USD in 2012, of which Myanmar 's exports to RoK was more than 237 million USD.-VNA