China to Provide 1 Billion Yuan Socioeconomic Grant to Myanmar
China will provide a grant of 1 billion yuan (225.39 billion kyats, or approximately US$148 million) for socioeconomic development projects under an economic and technical cooperation agreement signed in Beijing last week.
Myanmar’s Ministry of Foreign Affairs said in a press release on Monday that the 1 billion yuan would be used to support socio-economic development, particularly projects to improve people’s livelihoods, feasibility studies for major projects and humanitarian assistance for IDPs in northern Myanmar.
