EU to fund Myanmar's development programs

YANGON - The European Union (EU) has pledged to provide 250 million euro ($332.5 million) to Myanmar annually under a three-year strategic cooperation program (2014-16), official sources said Tuesday quoting EU Ambassador to Myanmar Roland Kobia.

The financial support will be rendered in view of Myanmar's remarkable progress achieved in its reform process, Kobia said, adding that the strategic cooperation will boost six major plans.

According to Myanmar Minister at the President's Office U Soe Thein, the 250 million euro, provided by the EU annually, will be mainly used for peace making efforts, parliamentary affairs, rule of law, 2015 general election, judiciary affairs and census-taking projects.

The rest of the fund will be allotted for rural development, health, education, economic development, human rights issues, civil societies and environmental conservation.

Myanmar and the EU have agreed to build strong partnership and voiced commitment to push reform in Myanmar since the two sides began to improve their relations.