Private sector to give 4 billion baht loans to neighboring nations

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BANGKOK, 28 April 2015, (NNT) – The Neighboring Countries Economic Development Cooperation Agency (NEDA) has been planning to provide loans on several infrastructure projects in three neighboring countries.

NEDA Director Newin Sinsiri said that the projects currently negotiating loans are from Laos, Myanmar and Vietnam. These projects have a combined value of roughly four billion baht.

Mr. Newin believes that by providing financial assistance to these nations, Thailand plays an important role is developing the economy in northern Southeast Asia, as well as entrenches the Kingdom as an all-round hub of the ASEAN region.

The NEDA Director revealed that projects under negotiation include the 1.1-billion-baht investment project on power lines and power stations in Laos, and the 1.7-billion-baht project to upgrade power networks in Yangon, Myanmar.

The Laos power project may be expanded at a later date to connect power lines to Thailand. Meanwhile, the Myanmar power project is currently awaiting government approval and is expected to be announced by the end of 2015.

Director Newin disclosed that another project under negotiation is the 1.1 billion baht construction of a water gate in Ho Chi Minh City in Vietnam.

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