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China and Myanmar sign agreement on LMC Special Fund for projects in Myanmar

(    14:40, March 30, 2020

The signing ceremony of the agreement on the transfer of funds for Lancang-Mekong Cooperation Special Fund (2020) projects was held in Myanmar's capital Nay Pyi Taw. According to the agreement, China will provide over US$6.7 million to Myanmar, which will be spent on 22 projects areas of agriculture, education, and ICT, among others.

Chen Hai, Chinese ambassador to Myanmar, said at the ceremony that since the launch of Lancang-Mekong Cooperation four years ago, they have put in place an LMC framework guided by leaders and underpinned by all-round cooperation and broad participation. In addition, Cooperation has always been enriched through a “3 + 5+ X cooperation framework”. LMC Special Fund has supported more than 410 projects proposed by five countries for the benefit of people's livelihood and the Lancang-Mekong Cooperation has transitioned from the nurture phase into a phase of growth. China and Myanmar will act as co-chairs of the LMC in 2020 and China will continue to work hand in hand with Lancang-Mekong countries, including Myanmar, to solidly promote the Lancang-Mekong Cooperation. This cooperation is characterized by pragmatism and efficiency so as to make substantial progress and achieve the goal of building a community with a shared future for mankind.

U Soe Han, Permanent Secretary of the Ministry of Foreign Affairs of Myanmar, said that Myanmar is the country with the largest number of projects supported by LMC Special Fund this year. He believes under the “3 + 5 + X cooperation framework”, Myanmar will achieve sustainable development and people's standards of living will continue to improve.

Lancang-Mekong Cooperation is a new sub-regional cooperation platform jointly initiated and established by China, Cambodia, Laos, Myanmar, Thailand, and Vietnam. In March 2016, the First Lancang-Mekong Cooperation Leaders' Meeting was held in Sanya, Hainan Province of China. At the meeting, China initiated the LMC Special Fund with the aim of supporting small and medium-sized cooperation projects put forward by the six Lancang-Mekong countries by providing US$300 million in five years. (Compiled by Zhang Xinfeng)

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: He Zhuoyan, Bianji)

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