Thailand : Govt to borrow $60mn from JICA

Govt to borrow $60mn from JICA
25/08/2009

The cabinet meeting has approved the Finance Ministry's proposal to borrow US$60.61 million from the Japan International Cooperation Agency (JICA).

The money would be used to improve waterworks management of the Metropolitan Waterworks Authority.

Government deputy spokesman Watchara Kannikar said on Tuesday the loan will be a 15-year term with eight per cent of interest annually.

The Metropolitan Waterworks Authority will sign the loan agreement while the Finance Ministry will be the guarantor of the project, Mr Watchara said.

bangkokpost.com

Debt upon debt upon debt. Never ending deluded cycle.

When will this welfare sham of a government foot there own bill. All I see is a bunch of Mercedes and big mansions. Brings back memories of people in Chitown paying for their groceries at Aldis and then jumping behind the wheel of their caddy in the parking lot and peeling out.