India announces 34.4 dollar financial assistance to Myanmar

Yangon, Mar 9 (UNI) India today announced a total of 34.5 million dollars credit and financial assistance to Myanmar for purchase of heavy duty water pumps, development of a multi-modal transport project and upgrading remote sensing ground receiving station in Yangon.

The Indian government has also promised to extend a 10 million dollar line of credit to Myanmar's multi-modal transport project.

The amount would be in addition to New Delhi's proposed financial contribution of over 95 million US dollars to the project.

The financial package was announced following a meeting visiting Indian President APJ Abdul Kalam had with Myanmar's State Peace and Development Council chairman Senior General Than Shwe.

India also decided to grant three million dollars for assistance with delineation of Myanmar's continental shelf and a 20 million dollar line of credit for purchase of heavy duty water pumps for agriculture and water supply.

As part of the package of Human Resource Development initiatives, 20 students from Myanmar will be will allowed to pursue PhD programmes in India.

It was also agreed that India would provide necessary assistance in upgrading scientific laboratories in various universities in Myanmar.

New Delhi also welcomed Myanmar's decision to depute 50 officials for an e-Governance project to be conducted in India as well as expedite setting up of two e-learning centres in Yangon and Mandalay, for which a grant of three million dollars was announced during Senior General Than Shwe's visit.

India and Myanmar are committed to upgrading their economic ties to the level of one billion dollars by this year.

UNI SKS/SMA SK BS1740