Japan will provide loans to Myanmar to help it repay debt to the Asian Development Bank and World Bank starting early next year.
“Japan welcomes that the World Bank and Asian Development Bank will be
in a position to clear” their loans, Jojima said today at a meeting
between Myanmar and its creditors in Tokyo as part of the International
Monetary Fund and World Bank’s annual meeting. The bridge loans will
come from the Japan Bank for International Cooperation, a state-backed
lender.
The settlement deal follows an April debt forgiveness plan as Japan,
Myanmar’s biggest creditor, re-engages with the Southeast Asian nation
that is shifting toward democracy after five decades of military
dictatorship. Japan will start implementing the plan in January, paving
the way to provide infrastructure loans to the country next year.
The ADB and the World Bank are in talks with the Myanmar government
about debt settlement, a move that would bring them closer to resuming
lending, ADB President Haruhiko Kuroda said in a group interview this
week. Myanmar owes about $500 million to the ADB and $400 million to the
World Bank.
Source gulfnews.com
But what point can you score when you besiege a home of an opposition leader? What is the real worth of your regime when a whole police institution sends out a tweet denying the attack on the home of your opponent by saying he was scared of police of foot patrol? sms lån
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