ID :
115014
Mon, 04/05/2010 - 10:06
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Shortlink :
http://m.oananews.org//node/115014
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Loan from Thailand to Laos for road renovation
VIENTIANE,4 APRIL (KPL) - The Neighbouring Countries Economic Development Cooperation Agency (NEDA) of Thailand has released 655 million Thai baht (about 170 billion kip) of loan to the Lao government for the improvement of roads.
A loan agreement was signed by Mr. Acksiri Buranasiri, NEDA President, and Ms. Viengthong Siphandone, Deputy Finance Minister, in Vientiane last Wednesday.
Mr. Sommad Pholsena, Minister of Public Works and Transport, Mr. Bounchanh Sinthavong, Vice Mayor of Vientiane and both sides’ officials concerned were present at the ceremony.
The loan will be spent on the improvement of Vientiane Capital’s T2 road costing 205 million baths, the R3 road renovation project worth 200 million baht and the construction of a drainage along the R3 roadsides, worth 205 million baht.
R3 Road runs from Chiang Rai province in northern Thailand, past Laos’s northern provinces of Bokeo and Luang Namtha, and on to Kunming of China’s Yunnan province.
160 million baht of loan will go to the drainage system improvement project along the T2 road in the Laotian capital.
Of the total loan of 655 million Thai baht, 70 percent is loan and the rest is grant aid from the NEDA.
The improvement of the roads and the drainage is part of urban development activities and activities for the celebration of the 450th anniversary of Vientiane as the capital.
A loan agreement was signed by Mr. Acksiri Buranasiri, NEDA President, and Ms. Viengthong Siphandone, Deputy Finance Minister, in Vientiane last Wednesday.
Mr. Sommad Pholsena, Minister of Public Works and Transport, Mr. Bounchanh Sinthavong, Vice Mayor of Vientiane and both sides’ officials concerned were present at the ceremony.
The loan will be spent on the improvement of Vientiane Capital’s T2 road costing 205 million baths, the R3 road renovation project worth 200 million baht and the construction of a drainage along the R3 roadsides, worth 205 million baht.
R3 Road runs from Chiang Rai province in northern Thailand, past Laos’s northern provinces of Bokeo and Luang Namtha, and on to Kunming of China’s Yunnan province.
160 million baht of loan will go to the drainage system improvement project along the T2 road in the Laotian capital.
Of the total loan of 655 million Thai baht, 70 percent is loan and the rest is grant aid from the NEDA.
The improvement of the roads and the drainage is part of urban development activities and activities for the celebration of the 450th anniversary of Vientiane as the capital.
