Myanmar Receives $280M Loan from JICA to reduce COVID-19 Impacts

· Finance,Economy

The Myanmar government and the Japan International Cooperation Agency (JICA) signed a concessional loan agreement of Japanese yen 30 billion (US$280million) on September 1. The loan is intended to remedy social and economic impacts caused by COVID-19 pandemic.
The agreement was signed by Myanmar’s Treasury Department Director-General Daw Si Si Pyone and JICA Myanmar Office Chief Representative Sakakura Noriji.

“JICA highly appreciates Myanmar government’s swift policy response to the economic impact of COVID-19 embodied in CERP,” said Sakakura Noriji. The emergency support loan not only fills the critical financial gap for the implementation of short-term relief measures but also lays the groundwork for the sustainable long-term recovery through supporting prioritized economic policy reforms, leveraging JICA’s technical cooperation projects.”

Source: Global New Light

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