ADB to provide loan to support Thailand 4.0 scheme

BANGKOK, April 3 (TNA) -- The Asian Development Bank (ADB) is set to provide a loan and knowledge for Thailand to push forward with its Thailand 4.0 scheme. Finance Minister Apisak Tantivorawong said at the event to mark the ADB's 50th Anniversary Celebrating a Partnership Between ADB and Thailand today, that in the past five decades ADB has been a great financial and academic assistant to Thailand. He noted that the ADB has provided a fund up to as high eight billion US dollars for development in Thailand and expressed hopes that the relations between both sides would become closer. He stressed that the ADB has voiced its readiness to support a loan, as well as knowledge in order for Thailand to better develop its industries and generate higher value for the country's productivity, whereas the loan would help Thailand move forward with its Thailand 4.0 scheme according to plans. Mr Apisak said Thailand can now also adjust its loan conditions with the ADB from the usual terms and conditions, where loan could only be taken out in installments in as the each project progresses, however, the ADB would now provide Thailand with a lump sum loan and the government could manage the use of the money by itself. (TNA)