Burma

China to Loan Burma 30 Billion Yuan

By MOE SET and MIN LWIN Tuesday, September 21, 2010

COMMENTS (12)

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China has agreed to give Burma a 30 billion yuan (US $4.2 billion) interest-free loan. The agreement was reached during junta chief Snr-Gen Than Shwe's five-day state visit to China on Sept. 7-11, according to Burma's Ministry of National Planning and Economic Development (MNPED).

“The interest-free loan agreement between China and Burma was reached after Than Shwe met China's president Hu Jintao in Beijing,” said an official from the MNPED.

Than Shwe led a 34-member delegation that included ex-generals and businessmen such as Tay Za, who is reportedly close to Than Shwe’s family, and Zaw Zaw, who owns Max Myanmar Group of Companies.

“The 30-year loan is intended to help fund mass hydropower projects, road construction, railway development and information technology development,” said the MNPED official, who provided no further details regarding the loan.
A Rangoon-based economist said that accepting the loan from China may leave Burma's military government subject to Chinese influence.

“It is obvious that if we receive the 30 billion yuan, we have to accept Chinese companies in Burma and the migration of Chinese workers into Burma. The loan received from China helps Chinese people and their companies. Ordinary Burmese people will not get economic opportunities from this agreement,” the economist said.

“The government also has not published how they will manage the loan, or how much Than Shwe can spend in the military development sector,” he added.

Meanwhile, a military source in Naypyidaw said Than Shwe is not willing to submit military expenditures to the new parliament that will convene after the Nov. 7 election.

“Than Shwe is not willing to submit the military budget bill to the parliament, so he wants to arrange military budgets before parliament is convened. Burma has recently bought military equipment including aircraft and ships,” the military source said.

Burma also received a US $1.2 billion loan from China in 2009 for economic development and information technology development.

COMMENTS (12)

tocharian Wrote:

25/09/2010

Burmese are cheap by Chinese standards. You can get a Burmese ID for about 100 Yuan, a Burmese girl for about 1000 Yuan, a Burmese army officer (or some officer from one of the ethnic rebel groups) for about 10,000 Yuan and even Than Shwe for about 10,000,000 Yuan. The Chinese can buy Burma because Burmese are selling themselves like prostitutes. I am ashamed!

Kerry Wrote:

24/09/2010

Of course China continues to fly in the face of humanity. What are we to expect, noting their recent works in SE Asia and Nepal?

China's rigid and archaic Government does not want to help remove the world's three most brutal dictators, and help give oppressed and brutalized people freedom, as they would have to look at why THEY are the notably largest world human rights pariahs, and environment destroyers.

Wake up China! Haven't you murdered enough in Tibet? Give the Burmese people a break from your stubborn (and notorious) avarice and brutality.

ludu Wrote:

23/09/2010

1885, ThiPaw Min sent a very weak and hopeless diplomatic message to China that requested the anchu Chinese Kingdom to send an army to rescue Burma from being totally colonized by the British. Actually, the Chinese troops are just coming in various forms in which some are businessmen, laborers, chefs, miners, engineers, etc. more than 100 years later.

U Maung Kyaw Wrote:

23/09/2010

I agree with Soe Thane, has anything constructive resulted from Burma campaign groups?? the only gains made were the fat fundings that these campaigners have received, creamed and made a living out of it. real shameless hypocrites.

Next, what have the west contributed to Burma? nothing... It is all take and no give. The West especially the Brits have colonized and milked the country of its resources and by the way, was there democracy and elections then? No, not even an ounce of it, but there were a hell of a lot of human rights abuses. The Brits are just pure jealous that what used to be theirs is now taken by others.

Why such double standards by the West? is there democracy in Saudi Arabia? Vietnam?; or is the type of corrupt, crony, gun toting democracy in the Philippines what the west wants in Burma?

Why not give Puerto Rico or Borinquen (as the locals called it) independence? Puerto Rico has remained a colony of the United States of America till this day.

Natshinnaung Wrote:

23/09/2010

Loan to Burma? I do not think so. All the money is are already in the pockets of the generals. Some amount will go back to China for the weapons Than Shwe purchased to protect his family.

Former Thai Prime Minister Shinawatra loaned Thai money to Than Shwe and Than Shwe bought products from Shinawatra's private company. That's why many Thais rose up against him and he was ousted for good. Corrupt leaders always end their lives like that. Loans from China have already ended up inside Than Shwe's pocket.

Oo Maung gyi Wrote:

22/09/2010

China loan is given to whom? China should clarify that either it is given to Than Shwe or Military Junta. Those loan given to Burma Or Than Shwe are not appoved by the peoples of Burma, because no parliament exists in Burma. So the loan given by China is not legal. It is just buying some thing from Burma, so this cannot be recognized as a loan. If they sign for the loan, it is also illigal, because Burma has no legal government.

By giving loans to to Burma's military, China is also interfering in the internal affairs of Burma.
China always says not to interfere in the internal affairs of a country,which means China can make interfere in other countires but other countries cannot. The most selfish country in the world is China, which is putting legs on Burmese soil. So it's become habitual for China to play Burmese politics. China has no shame at all,
when Chou-Enlai, the then Prime minister of China visited to Myanmar, he delivered a speech
at Rangoon University saying that all Chinese to marry Burmese women.

Soe Thane Wrote:

22/09/2010

The Burma campaign groups and their funders in the US and UK have pushed Burma into the hands of China. It will now become a colony. History and the Burmese people will never forget this.

George Than Setkyar Heine Wrote:

22/09/2010

“It is obvious that if we receive 30 billion yuan, we have to accept Chinese companies in Burma and the migration of Chinese workers into Burma. The loan received from China helps Chinese people and their companies. Ordinary Burmese people will not get economic opportunities from this agreement,” the economist said.
And rightly as well.

It is reminiscent of Indians giving loans to farmers in pre-World War II Burma. When the farmers couldn't repay the loans, they had to surrender their daughters to the Indians.

In this case, Than Shwe has surrendered Burma's natural resources, national sovereignty and territorial integrity as well to the Chinese communists.

And Burma would soon become a province of China, I bet.
Of course the Chinese will cover Than Shwe's butt in the international arena as long as he lives in return also.
Calls for Commission of Inquiry and other measures to bring Than Shwe and his bunch to justice are as far remote as finding the ends of the universe.

Myatye Moe Wrote:

22/09/2010

"...intended to help fund mass hydropower projects, road construction, railway development and information technology development." Thanks to China for its humanitarian aid (probably).

But how many highways and hydro electric powers have been finished by the regime?

To the best of my knowledge, the regime had built one hydro electric plant by Haka, Chin State in 1999. The New Light of Myanmar said, "It will bring light from darkness to the Chin Hills."

Many towns people and governmental service men were forced to go there on the site for the opening ceremony. Ironically, the power lasted for only two nights and broke down forever.

Dear, Irrawaddy, plz keep an eye on where all these billions of money will go.

KKK Wrote:

21/09/2010

China is not loaning to Burma, China is buying Burma. This is going to be the first installment for a 30 year payments. Where are the ethnic armed groups? What are they doing now? Why don't you guys do something? Destroy all gas pipeline projects, destroy all dams, eliminate all the junta's businessmen and partners if you love your ethnic group, your culture, your tradition and your land. You will all have to flee from Burma if you don't save Burma. DO IT NOW.

Win Wrote:

21/09/2010

Believe me, the Chinese would never give out money without receiving some kind of benefit themselves. Be prepared to be the slaves of China.

The Chindits Wrote:

21/09/2010

This is outrageous. I don't mind if the loan money is equally distributed among Burmese citizens. Knowing Than Shwe, I doubt it. It will only benefit friends of Gen. Than Shwe while the rest of the country suffer. When will this end?