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Burma’s Thein Sein Heads to Japan; $578M More in Loans Expected

13 December 2013

Burmese President Thein Sein traveled to Japan on Thursday for an Asean-Japan summit, where he is expected to sign new cooperation deals and loan deals with Japanese Prime Minister Shinzo Abe, according to Japanese media. Kyodo quoted a Japanese government source saying Abe would pledge 60 billion yen (US$578 million) in loans to Burma—on top of $867 million promised in May—and support for Burma’s health and medical sectors. “The pledges are aimed at putting a brake on China’s moves to enhance ties with Myanmar while helping Japanese businesses to enter Myanmar’s market, the source said,” according to Kyodo.