Home Insider Insider News Japan Pledges a Syndicated Contribution of $7.73 billion to Myanmar

Japan Pledges a Syndicated Contribution of $7.73 billion to Myanmar

Japan will provide Myanmar with a syndicated contribution of $7.73 billion for the coming five years through the public and private sectors, according to Japanese Prime Minister Shinzo Abe on November 2.

The Japanese Prime Minister pledged the assistance at a meeting with Myanmar’s State Counsellor and Foreigner Minister Aung San Suu Kyi at the Akasaka Palace State Guesthouse. The contribution is aimed to enhance cooperation between Japan and Myanmar in the sectors of agriculture, human resources, manufacturing, energy, urban development and financial services.

“As a friend of Myanmar, Japan will give the new government our full support across the public and private sectors,” Abe told a joint press conference held after the meeting.

“I want to again express my respect for the nation-building Myanmar is carrying out under the universal values we share – freedom, democracy, human rights and the rule of law,” the Japanese PM also said in the meeting. Japan will offer the aid through its government and private firms.

Aung San Suu Kyi arrived in Japan on November 1 for a five-day visit that marked her first trip to the Asian power house since her party took power in March following a landslide victory at the November 2015 elections. Suu Kyi has already paid a visit to China, a regional arch rival of Japan, in August this year as her first overseas trip outside Southeast Asia since her party’s election victory.