YANGON-With the aim to response crisis over COVID-19 pandemic in Myanmar, bilateral agreement to give emergency loans worth about US$180 million was signed between Myanmar and Japan on September 1st, according to the announcement from Japan Embassy in Myanmar.

Japanese ambassador to Myanmar Ichiro Maruyama and Deputy Minister of Finance and Industry Maung Maung Win signed an agreement and exchanged it.

The Japanese government was very proud of Myanmar’s efforts into control of COVID-19 virus and then Japan will be helping with economic projects concerning COVID-19 disease and COVID-19 Economic Relief Plan.

The loans will be low-interest and the appropriate grace period including suspension period will be 40 years.

Likewise, the Japanese Embassy also announced that the Japanese Ambassador and Bharat Singh, Deputy Minister for Investment and Foreign Economic Relations also signed agreements on three projects in Nay Pyi Taw on July 2nd. The assistance of US$20.5 million was earmarked for upgrading of waterway indicators in Yangon River and then it would provide water distribution programs in Yangon and Mandalay Regions and upgrading of wireless devices.