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Thai loans 1.3 bln baht to Laos
The Thai Government has released more than 1.3 billion baht of low-interest loan and grant aid to the Lao government for the improvement of National Road No 11.
Of the total financial support include 417 million baht of grant assistance and 974 million baht of soft loan. An agreement on the loan was signed at the Lao Prime Minister's Office, Vientiane Capital, on 9 December between Deputy Minister of Finance, Mrs Viengthong Siphandone and President of National Economic Development Authority of Thailand (NEDA), Mr. Acksiri Buranasiri.
The signing ceremony was witnessed by Prime Minister Bouasone Bouphavanh and his Thai counterpart Abhisit Vejjajiva, and relevant officials of both sides.
The loan will be spent on the paving the National Road No 11 for a length of 82 km. The first section runs 56km from the junction of Tardthong village, Sikhottabong district, Vientiane Capital, to Nam Sang River bridge, and the second section, totalling 26km, in Sangthong district.
The road improvement project is necessary for socio-economic development, transportation and business of Lao people. It will also help create jobs for local people and improve the living conditions of people.
Lao News Agency
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