Thailand gives nod to $11b water management loan

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Thailand floodsThailand’s finance ministry on June 28 signed a contract for loans to finance the $11 billion water and flood management scheme, the country’s state news agency reported.

The lion’s share of the amount will be borrowed from 4 banks, Government Savings Bank, Krung Thai Bank, Bangkok Bank and Kasikorn Bank. A previous loan of about $892 million will be added to the budget which will be disbursed between 2013 and 2018.

The signing comes amid spats over environmental and safety concerns of the planned water management scheme and also a quarrel about the ability of a South Koren company, K-Water, to facilitate the projects.

The projects mainly include flood control developments that are aimed at avoiding severe floods such as in 2011 that cost the country billions of dollar in economic damage. Despite legal disputes, prime minister Yingluck Shinawatra said the Thai government will “try its best to address the country’s persistent flood and drought problems in a sustainable manner.”

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Reading Time: 1 minute

Thailand’s finance ministry on June 28 signed a contract for loans to finance the $11 billion water and flood management scheme, the country’s state news agency reported.

Reading Time: 1 minute

Thailand floodsThailand’s finance ministry on June 28 signed a contract for loans to finance the $11 billion water and flood management scheme, the country’s state news agency reported.

The lion’s share of the amount will be borrowed from 4 banks, Government Savings Bank, Krung Thai Bank, Bangkok Bank and Kasikorn Bank. A previous loan of about $892 million will be added to the budget which will be disbursed between 2013 and 2018.

The signing comes amid spats over environmental and safety concerns of the planned water management scheme and also a quarrel about the ability of a South Koren company, K-Water, to facilitate the projects.

The projects mainly include flood control developments that are aimed at avoiding severe floods such as in 2011 that cost the country billions of dollar in economic damage. Despite legal disputes, prime minister Yingluck Shinawatra said the Thai government will “try its best to address the country’s persistent flood and drought problems in a sustainable manner.”

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