Nay Pyi Taw (Myanmar), May 28 (ANI): India and Myanmar on Monday expressed satisfaction at the growing dimension of development cooperation between the two countries which is being financed under grants and concessional loans amounting to USD 1.2 billion till date.
Taking stock of ongoing projects in the areas of infrastructure, agriculture, human resource development, industrial development, power, health etc., Indian Prime Minister Dr. Manmohan Singh and Myanmar President U Thein Sein agreed to identify more projects of benefit to the people of Myanmar in future.
In a joint statement issued after one-to-one and delegation-level talks, both leaders welcomed the signing of the MoU on the US$ 500 million Line of Credit extended by India to the Government of Myanmar which would pave the way for its early operationalisation.
The Line of Credit will be utilised in the infrastructure development projects, including in the fields of Agriculture and Irrigation, Rail Transportation, and Electric Power in Myanmar.
Identifying the need for special focus on the development and prosperity of the people in bordering areas, the two leaders agreed to cooperate to bring about overall socio-economic development in the border areas by undertaking both infrastructure development and micro-economic projects, including upgradation of roads and construction of schools, health centres, bridges, agriculture and related training activities in the area in accordance with the MoU on India-Myanmar Border Area Development that was signed during the visit.
The President of Myanmar also welcomed India's offer of assistance in production of large Cardamom in the Naga Self Administered zone. (ANI)
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