The Thai Cabinet has voted to approve a THB2.2 trillion loan for the construction of several infrastructure “mega-projects” over the next seven years.
In announcing the decision, Prime Minister Yingluck Shinawatra said that her government planned to borrow from both domestic and foreign sources in order to provide for the projects’ hefty price tag.
If approved by Parliament, the THB2.2 trillion loan will be used to finance the construction of several high-speed rail lines (including one slated to run from Bangkok to Pattaya) and the construction of the Dawei deep seaport off the coast of Myanmar.
The Nation reports that if approved, the bill would be financed by loans culled primarily from domestic sources.
