Japan pledges $7.73 billion in aid to Myanmar

TOKYO

Japan has pledged to contribute around 800 billion yen ($7.73 billion) over five years to aid nation-building in Myanmar, in an effort to end ethnic conflicts.

Prime Minister Shinzo Abe told state counselor Aung San Suu Kyi on Wednesday that public and private sectors will contribute to the fund.

"As a friend of Myanmar, Japan will give the new government our full support across the public and private sectors," Kyodo news agency reported Abe as telling reporters during a state visit by Myanmar's de facto leader Wednesday.

The efforts are expected to include infrastructure building and cooperation in the energy sector.

Abe said that Japan hopes the aid will help Myanmar settle its deeply rooted ethnic conflicts.

Suu Kyi arrived Tuesday on a five-day visit, her first to the country since her party took power in March following a landmark election.

"As we in Myanmar carve out a new page in our history, I believe that Japan will continue to walk side by side with us as a good friend and trustworthy partner," Suu Kyi said.

Kyodo reported that the Japanese Foreign Ministry has also said it will also provide up to 10.8 billion yen in loans for refurbishing two aging hydroelectric power plants.