BUSINESS - China’s Exim to lend Burma US$300m for road upgrade

Burma’s National Planning and Economic Development Ministry is reviewing terms for a US$300 million loan from China’s Exim Bank, according to a senior ministry official. The loan is intended to fund nationwide road upgrades. Interest rates and repayment deadlines are still under negotiation. Burma’s government came under fire over the past year for receiving a US$100 million loan from Exim to build up the cooperatives sector, which critics say came with excessively high interest rates.