ADB to support construction of new highways in Thai Northeast

BANGKOK, November 22 (TNA) - The Asian Development Bank (ADB) will fund the construction of new highways in the Thai Northeast, as the Thai Cabinet has already approved a borrowing plan of about 94.4 million US dollars from the Manila-based bank. Government Spokesman Lieutenant General Sansern Kaewkamnerd told journalists that the Thai Cabinet approved the planned loan from ADB during its weekly meeting at Bangkok's Government House on November 21. The spokesman explained that the Thai Cabinet endorsed a draft deal on the Ministry of Finance's borrowing plan, worth in the Thai currency of about 3.40 billion baht, to be used for the construction of three new four-lane highways in the Thai Northeast, including the phase-two Highway No.22 linking Nong Han District of Udon Thani Province with Phang Khon District of Sakon Nakhon Province, the Highway No.22 linking Sakon Nakhon Province with Nakhon Phanom Province and the Highway No.23 linking Roi Et Province with Yasothon Province. The spokesman said that the Thai government has set a total fund of about 6.81 billion baht to finance the construction of the three new highways in the northeastern region, about 50 per cent of which will come from the ADB soft loan, set over the next 13 years with a three-year grace period. (TNA)