Japan to provide 100 billion yen in loans for Myanmar

Japan plans to offer Myanmar 100 billion yen (995 million dollars) in loans for infrastructure projects in an effort to counter China's influence in the South-East Asian country, Japanese media reported Friday. 

Keen to bolster ties with Myanmar, Prime Minister Shinzo Abe is likely to announce the decision at a series of meetings relating to the Association of South-East Asian Nations in September, Kyodo news agency reported, citing an unnamed Japanese government source.

The loans are expected to be spent on projects such as repairing railways connecting Myanmar's two largest cities Yangon and Mandalay, the report said.

Tokyo's offer would be the first since Aung San Suu Kyi's National League for Democracy (NLD) party came to power in March as Myanmar's first democratically elected government after more than a half a century of military rule. 

Last week, the activist-turned-politician visited Beijing and held talks with Chinese President Xi Jinping. 

Last update: Fri, 26/08/2016 - 09:50

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