Japan to offer 62.33 billion yen in loans to China

On March 30, China and Japan signed a document in Beijing guaranteeing Japanese loan pledges made to China in 2006. The Chinese Deputy Foreign Minister, Wu Dawei, and the Japanese Ambassador to China, Yuji Miyamoto, signed the agreement on behalf of their governments.

According to document, Japan will offer 62.33 billion yen (US$539.52 million) in loans to China, which will be used to fund seven projects. The loan rates for the Japanese yen in 2006 range from 0.75% to 1.5%, with a repayment period of 30 to 40 years.

By People's Daily Online