YAGNON, April 5 (Xinhua) -- The Austrian government has pledged 5 million U.S. dollars' development loans to Myanmar to implement projects in three sectors, official media reported Wednesday.
The development projects cover healthcare, security and environmental conservation, Commercial Counselor with the Austrian Embassy Gunther Sucher was quoted by the Global New Light of Myanmar as saying.
Depending on the results achieved in the first year of the development projects, further monetary assistance will be given to Myanmar government annually, he told Myanmar entrepreneurs at the Office of the Union of Myanmar Federation of Chambers of Commerce and Industry Tuesday.
Austrian entrepreneurs are also said to have interest in Myanmar's farming industry.
According to the Directorate of Investment and Company Administration, Austria's investment in Myanmar amounted to 72.5 million U.S. dollars, ranking 21st in the country's foreign investment line-up.