Myanmar receives $6.7m from China under LMC Special Fund

NAY PYI TAW - Myanmar received over $6.7 million from China under the Lancang-Mekong Cooperation (LMC) Special Fund on Monday.

The signing ceremony of the agreement on the transfer of fund for LMC Special Fund (2020) projects was held in Myanmar's capital Nay Pyi Taw.

During the ceremony, Chinese ambassador to Myanmar Chen Hai noted that China and Myanmar will act as co-chairs of the LMC in 2020.

Chen said China and Myanmar, as natural cooperative partners and a community of shared future, can surely bring into play complementary advantages to deal with their common challenges together, and open a new chapter in the Lancang-Mekong Cooperation.

Myanmar will use the fund for 22 projects in the areas of agriculture, education, and ICT, among others.

The agreement on projects of the LMC Special Fund for Myanmar (first batch) worth of $2.4 million was signed in January 2018 to aid 10 projects implemented in Myanmar.

China initiated the LMC Special Fund during the first LMC leaders' meeting in March 2016 with the aim of supporting the small and medium-sized cooperation projects put forward by the six Lancang-Mekong countries.

The six Lancang-Mekong countries comprise of China, Cambodia, Laos, Myanmar, Vietnam and Thailand.