Thailand gives nod to $11b water management loan

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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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. 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,...

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.”



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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