Laos - Japan to provide Laos with $63m loan

TOKYO - Japan pledged Friday to provide Laos with a low-interest official loan worth about 4.2 billion yen (S$63.4 million) for a power system development project in the country's southern region.

The promise was made when Japanese Prime Minister Yoshihiko Noda met his Laotian counterpart Thongsing Thammavong, who arrived in Tokyo on Wednesday on a five-day visit, officials said.

Noda also told Thongsing that Japan will extend a grant of 600 million yen to help restore areas in Laos affected by last year's flooding, the officials said.

The two leaders discussed promotion of cultural exchanges towards the year 2015 which marks the 60th anniversary of establishment of diplomatic relations between their countries, according to a joint press statement.

They agreed that both Japan's official development aid and investment, and trade involving the Japanese private sector are "important for the sustainable economic growth" of Laos, the statement said.

AFP

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