China and Myanmar signed one more general loan agreement on utilization of the preferential buyer’s credit loan of 200 million U.S. dollars here on June 8.

The signing ceremony between the Export and Import Bank of China and the Central Bank (CB) of Myanmar was witnessed by Chargede Affaires of the Chinese Embassy Yu Boren and Governor of the CBof Myanmar U Kyaw Kyaw Maung.

It was another loan of its kind with the same amount extended by China since August 2003.

The present loan agreement, initiated during Myanmar Prime Minister General Soe Win’s visit to China in February this year, will be used in implementing projects of five Myanmar ministries in different sectors.

The 2003 Chinese loan was used for importing heavy machinery under Myanmar’s 790-megawatt Yeywa hydropower project.

Both sides agreed that the loan will contribute to the improvement of Myanmar’s infrastructure and socio-economic development.