The government of Myanmar will be receiving loan assistance from South Korea from its Economic Development Cooperation Funds in the amount of US$ 500 million from year 2013 to 2017, Xinhua news reported.
This was announced during a joint committee meeting regarding economic cooperation between Myanmar and South Korea headed by Korean Deputy Prime Minister and Minister of Strategy and Finance Hyun Oh-Seok who was visiting the country and KanZaw, Myanmar Minister of National Planning and Economic Development in Nay Pyi Taw last Wednesday.
The parties talked about 8 strategic areas of cooperation which covers 39 projects including projects that has something to do with promoting of services, infrastructure development and the sports sector.
Myanmar President Thein Sein expressed his deepest appreciation and gratitude to the government of South Korea for its continuous support since this would certainly help the country in its reform process.
Moreover, the President also told to Hyun that the President of South Korea is most welcome to visit Myanmar and extending his invitation, the report said. Original source: http://www.betweenonline.com/2013/06/21/myanmar-receives-500-million-loans-from-south-korea/
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