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 Bank & Finance
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27 Oct 07 06:51
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Thailand awaits reply from JBIC on loan request
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TNA
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BANGKOK, Oct 26 -- The Thai government is still awaiting a reply from the Japan Bank for International Cooperation (JBIC) on its request for loans to finance construction of two new electric train lines designed for easing traffic congestion here, said Finance Minister Chalongphob Sussangkarn on Friday.
Mr. Chalongphob said it is likely that the government would find lending sources in the country to finance the construction of the red route of the electric train lines from Taling Chan to Bang Sue.
The government has requested loans from JBIC to finance construction of the purple route from Bang Yai in Nonthaburi province to Bang Sue and it is anticipated that it would receive the reply within the next few days, he said.
If JBIC declines to extend loans for the projects, then the government may have to borrow from domestic financial institutions, possible now because of massive liquidity in the local market now, he said.
Other possible lending sources could be China which has agreed to provide a maximum loan of US$400 million to Thailand as well as from the World Bank and the Asian Development Bank, Mr. Chalongphob added.
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