Categorized | Politics

Japan Offers Development Loan to Myanmar

Yangon, Myanmar: For the first time in 25 years, Japan will provide a development loan to Myanmar. The loan is mainly for the development of the ports, railways and other transportation and also for the basic housing projects for the general citizens of Myanmar.  The Myanmar Post News Journal reported that media from Japan expects that the contract of loan for the above mentioned projects can be dealt in the summit conference which will be held in April 2012.

Concerning with this loan from Japan, U Nay Zinn Latt, a counsellor of president U Thein Seinn, told The Myanmar Post News Journal that “Our Country wasn’t regarded as a normal country for the past decades.  Myanmar had been oppressed by sanctions from various countries. Nevertheless, now all most all countries are now treating Myanmar fairly and it is a sign that our country has been brought back to be a normal country again. Now Japan and Norway have also released some restrictions just like most of the countries have.  So once we are getting help from various countries, international investments will also start to pour in.”

Japan officially stopped providing loans to Myanmar since 1980, The Myanmar Post News journal stated in its issue which was published on last Monday, February 27th.  It also stated even though Japan has been  providing some support for the social works with consideration and emergency aids such as aids for the cyclone Nargis since 2003, Japan did not provide any support concerning business development for Myanmar. With some improvements made by the civilian government and because of the democratic progress shown by Myanmar,Japan has decided to open up its financial aid Myanmar government again.  If both ends from Japan-Myanmar can make a successful deal regarding this, it’ll be a good step in moving forward for Myanmar as a country and its citizens.

Posted on 05 March 2012

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