India to provide debt service relief to Myanmar

Prime Minister Narendra Modi with State Counsellor of Myanmar, Aung San Suu Kyi on Sunday. (Source: Twitter/@IndiainMyanmar)

India on Thursday reached out to Myanmar and agreed to provide debt service relief under the G-20 Debt Service Suspension Initiative and hoped that this would further help mitigate the impact of COVID-19.

This was conveyed by Foreign Secretary Harsh Vardhan Shringla, who held Foreign Office consultations with a Myanmar delegation led by Permanent Secretary U Soe Han through virtual mode.

The Permanent Secretary reaffirmed Myanmar’s commitment to strengthen its time-tested partnership with India for mutual benefit of the two countries. He also expressed appreciation for COVID-related and development assistance extended by India. He thanked India for providing debt service relief under the G-20 Debt Service Suspension Initiative for the period May 1 to December 31, 2020.

“We are meeting in exceptional times that have thrown up challenges but also avenues and opportunities to collaborate in divergent and multifaceted areas. India is prepared to continue to extend all possible support to Myanmar in mitigating the health and economic impact of COVID-19,” Shringla said at the meeting.

With respect to the COVID vaccine, he told Myanmar that New Delhi stands committed to sharing its capabilities with its strategic partners, including Myanmar.

On the issue of Rohingya refugees, he said, “Our work under the Border Area Development Programme and Rakhine State Development Programme continues apace. Recently, we have entered into a trilateral cooperation with Japan on the Rakhine State under which we will create soft infrastructure for 15 schools. Our efforts towards ensuring an early, safe and sustainable repatriation of internally displaced persons to Myanmar will continue.”

India’s assistance to Myanmar is around $1.4 billion. Despite the challenges caused by the pandemic, they are working towards operationalising Sittwe Port by the first quarter of next year. With respect to the 69 bridges on the Trilateral Highway, he said they will soon be moving forward with the tendering process.

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