(Photo: People's Daily)

Nay Pyi Taw (People’s Daily) - At a ceremony for the Lancang-Mekong Cooperation (LMC) Agreement, China and Myanmar signed a transfer of funds contract for joint projects in Nay Pyi Taw on Monday. 

During the ceremony, both sides applauded the agreement, which was signed by Chinese Ambassador Chen Hai and Permanent Secretary U Soe Han with Myanmar’s Foreign Ministry. 

This agreement officially launches the start of the Lancang-Mekong Cooperation 2020, with nearly $6.8 million designated for 22 Myanmar projects. This year, Myanmar and China will be co-chair the LMC.

Launched in 2016, the agreement will fund 51 projects in Mynamar with over $16 million aimed at poverty alleviation, improving livelihoods, minimizing development caps, and other projects.

During the ceremony, Hai said the six Lancang-Mekong countries are close neighbors that enjoy deep cultural bonds and person-to-person exchanges. 

“Over the past four years, we have successfully held two leader’s meetings and five foreign minister’s meetings and forged the “3+5+X cooperation framework,” Hai said.  

The LMC special fund has assisted in more than 140 grassroots projects proposed by five countries and has improved people’s livelihoods. 

Hai recognized Myanmar as the LMC cradle and has since developed a system run by the government, and that allows for participation from all walks of life. 

Agricultural projects such as rice harvesting and coffee bean plants, and technology-based poverty alleviation efforts, along with youth exchanges, talent cultivation, and heritage protection, cooperation with China has strengthened.

Over the past two years, almost 30 programs supported by the LMC have been successful. 

Monday’s ceremony officially launched 22 funded projects, according to the LMC. Cooperation will be strengthened in sectors including medical, health, science, education, and culture.