Cabinet approves THB184mil loans to Laos

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BANGKOK, 9 May 2012  – The Cabinet has approved hundreds of millions of baht in grant to help neighboring Laos with its development plans. 

Deputy government spokesperson Pakdihan Himathongkam said that the weekly Cabinet meeting has resolved to assign the Neighboring Countries Economic Development Cooperation Agency (Public Organization), or NEDA, to proceed with the proposed loans, worth 184 million baht, to Lao People’s Democratic Republic.

Mr. Pakdihan stated that the loans have been allocated from the national budget and are intended for the development of roads, the construction of drainage system and the improvement of Pakse Airport.

He added that the disbursement of the loans will be carried out with cooperation from the Thai Ministry of Foreign Affairs and related state agencies.

The 20-year loans carry a 1.5-percent interest rate per annum and require interest payment twice a year.