Mega-Projects : good news, 2,5 % are financed !

Deputy Prime Minister and Finance Minister Surapong Suebwonglee on Wednesday signed the loan deal with Japan’s Ambassador to Thailand to finance the construction of the Purple Line urban train project.

The loan totalled 62.4 billion yen or approximately Bt19.8 billion. The 25-year contract includes the 7-year grace period. Thailand would be charged 1.7 per cent per annum as the interest rate.

Thailand had spent months to negotiate the loans from Japan Bank for International Cooperation (JBIC). (Nation)

Months ? Indeed. The circus started in august… 2006 ! Yes with Thaksin as Prime Minister ! And then, it has continued with the Junta.

So folks, I guess this is the end of the road : the Japanese have said yes. For 19,8 billions THB… it means 2,5 % of the Mega-Galactic-Projets (total cost 770 billions THB, plan for 9 lines presented a few days ago, read here) !

Just 750 billions more to find now ! Piece of cake.

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Thailand Crisis

Coup, Economic slowdown, Terror In the South... The situation is worsening in Thailand. Bumpy road like often before.

But this time, it's different.

The key to understand the present turmoil is the inevitable... succession of King Bhumibol.


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