BANGKOK, Thailand -- The Asian Development Bank (ADB) will fund the construction of new highways in the Thai Northeast as the Thai Cabinet has already approved a borrowing plan of about US$94.4 million from the Manila-based bank, Thai News Agency (TNA) reported.
Government Spokesman Lieutenant General Sansern Kaewkamnerd told journalists that the Thai Cabinet approved the planned loan from ADB during its weekly meeting at Bangkok's Government House on Tuesday.
The spokesman explained that the Thai Cabinet endorsed a draft deal on the Ministry of Finance's borrowing plan, worth in the Thai currency of about 3.4 billion baht (about US$103.9 million), to be used for the construction of three new four-lane highways in the Thai Northeast.
It includes the phase-two Highway No.22 linking Nong Han District of Udon Thani Province with Phang Khon District of Sakon Nakhon Province, the Highway No.22 linking Sakon Nakhon Province with Nakhon Phanom Province and the Highway No.23 linking Roi Et Province with Yasothon Province.
The spokesman said that the Thai government has set a total fund of about 6.81 billion baht (about US$208 million) to finance the construction of the three new highways in the northeastern region, about 50 per cent of which will come from the ADB soft loan, set over the next 13 years with a three-year grace period.--NNN-BERNAMA
Source: NAM NEWS NETWORK