October 10, 2008
Bangkok - Thailand planned to borrow 1.5 billion dollars of loan from world financial institutions to spend on its infrastructure projects, according to the finance ministry.
Finance Minister Suchart Thada-thamrongvej yesterday said he would travel to attend a meeting with the World Bank in the United States.
Thailand would request funds from the Asian Development Bank (ADB).
"The loans are to be used for Thailand's mega-projects, 500 million dollars from the World Bank and 1 billion dollars from ADB," Suchart said, without giving any further details of the projects.
Thailand’s economic growth was lowered to five percent.
Suchart said it was difficult to forecast the economic growth due to global financial crisis and political turmoil.
The gross domestic product growth was expected to be higher than four percent in the third quarter. But the growth would be lower in the fourth quarter.
