$105M LOAN FROM JAPAN FOR COMMUNICATION NETWORK

Japan has pledged to provide Myanmar with 10.5 billion yens ($105 million) in loan to help the country improve communication network linking major cities of Yangon, Mandalay and Nay Pyi Taw. The low-interest loan, aimed at meeting the growing demand for mobile phones and internet in the country, was offered by Japanese Foreign Minister – Fumio Kishida, during talks with his Myanmar counterpart – U Wunna Maung Lwin, on the sidelines of ASEAN-related meetings in Nay Pyi Taw.Japan is also helping Myanmar in development of postal sector by providing technical support to the latter in postal services.