Japan’s Abe to Offer Myanmar 40 Billion Yen New Aid, Jiji Says
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Japanese Prime Minister Shinzo Abe will offer Myanmar 40 billion yen ($395 million) of new funds and exempt about 200 billion yen of delinquent debt when he meets President Thein Sein today, Jiji Press reported without citing anyone.
As Myanmar’s largest creditor, Japan last year agreed to settle $6.6 billion in debt and provide loans to help repay the Asian Development Bank and World Bank. Japan has sought closer ties since the 2010 election that brought Thein Sein to power, hosting him in Tokyo last year and sending Finance Minister Taro Aso to Myanmar in January with business leaders.