"China will Provide a grant of 1 billion yuan (225.39 billion kyats, or approximately US$148 million) for socioeconomic development projects under an economic and technical cooperation agreement signed in Beijing last week. Myanmar’s Ministry of Foreign Affairs said in a press release on Monday that the 1 billion yuan would be used to support socio-economic development, particularly projects to improve people’s livelihoods, feasibility studies for major projects and humanitarian assistance for IDPs in northern Myanmar. State Counsellor Daw Aung San Suu Kyi recently completed a six-day visit to China to attend the 2nd Belt and Road Forum for International Cooperation at the invitation of Chinese President Xi Jinping. The Belt and Road Initiative (BRI) is Xi’s signature foreign policy project. Unveiled in 2013, it is also known as the Silk Road Economic Belt and the 21st-Century Maritime Silk Road. The project aims to build a network of roads, railroads and shipping lanes linking at least 70 countries from China to Europe passing through Central Asia, the Middle East and Russia, fostering trade and investment..."