Thai Senate approves Bt2.2-t loan bill

BANGKOK, November 20 (TNA) - Thailand’s Senate has approved a 2.2-trillion-baht borrowing bill to finance the government's new mega-infrastructure development projects over the next seven years. After a 25-hour debate, the Senate approved, in its third reading, the government-proposed bill at 2:49am on Wednesday, allowing the Thai Ministry of Finance to borrow 2.2 trillion baht to fund the new mega-infrastructure development projects. The Thai Upper House passed all 18 sections of the loan bill in its second reading with the majority vote of 63:14 and its third, or final, reading with the majority vote of 68:44, four abstentions. Most of the new 2.2-trillion-baht loan will be used to finance the Thai government's new investment plans in the local transport sector, including those on the development and extension of mass rail transit systems, covering the construction of high-speed rail lines. (TNA)