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Japan cancels $3.58 billion Burma debt


The Japanese Embassy in Rangoon has announced that Japan has relieved Burma of 326.3 billion yen (US$3.58 billion) of debt.

In a statement released on Wednesday, the embassy said that the move is designed to promote the ongoing democratization, national reconciliation and economic reforms in Burma.

Japan also said that it will continue to play a leading role within the international community in supporting the country's reforms.

The World Bank announced on Sunday that it would partner with the Asian Development Bank to clear another $900 million of Burma's outstanding debt.
Last Updated ( Friday, 01 February 2013 12:15 )  

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