Advertisement

SKIP ADVERTISEMENT

Japan to Forgive Myanmar Debt to Support Reform

TOKYO (AP) — Japan said Saturday that it would take steps to forgive about 300 billion yen, or $3.7 billion, of Myanmar’s debt and resume full-fledged development aid as a way to support the country’s democratic and economic reforms.

The government made the announcement after a meeting between Prime Minister Yoshihiko Noda and Myanmar’s president, U Thein Sein, following a summit meeting with leaders from the five nations of the Mekong River region.

Myanmar’s military junta handed power last year to a nominally civilian government that has surprised the world with a series of sweeping political and economic reforms, including releasing some prominent political prisoners and allowing Daw Aung San Suu Kyi, the country’s most prominent democracy activist, to contest recent parliamentary by-elections.

At a news conference with Mr. Thein Sein, Mr. Noda said that reforms had been “steadily moving forward,” and that Japan pledged to strengthen its assistance “so that the Burmese people will be able to enjoy the fruit of its reforms.” Myanmar, also known as Burma, owes Japan about 500 billion yen, or more than $6 billion, from past loans.

“On behalf of the Myanmar government and its people, I would like to express my gratitude to Japanese government officials and the people of Japan,” Mr. Thein Sein said.

A version of this article appears in print on  , Section A, Page 14 of the New York edition with the headline: Japan to Forgive Myanmar Debt to Support Reform. Order Reprints | Today’s Paper | Subscribe

Advertisement

SKIP ADVERTISEMENT