$615 mn in loans to Myanmar: Japan
Agencies: Tokyo, Nov 18 2012, 16:10 IST
resource-rich Mekong region, a part of the world that is also being courted by China.
Unlike its Western allies, Japan maintained trade ties and dialogue with Myanmar, warning that a hard line on the then-ruling junta could push it closer to China, its key ally and commercial partner.
The European Union, Canada and Australia have suspended virtually all sanctions. The US move on Friday came ahead of a landmark trip by President Barack Obama to Myanmar.
The Tokyo government has in recent years provided other Asian nations with similar low-interest, long-term loans, known as "yen loans", aimed at boosting economic development, including Vietnam and India.
In April, Japan agreed to forgive 300 billion yen of the 500 billion yen which Myanmar owed.
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