Tuesday, July 28, 2009
Thai Cabinet OKs THB1.4 Billion Financial Aid For Cambodia Road Project
ANGKOK -(Dow Jones)- The Thai Cabinet Tuesday approved a THB1.4 billion ($ 41.2 million) budget to provide financial assistance to Cambodia for its road development project.
The 30-year soft loan will charge interest at 1.5%, with the principal being repaid from 2019 onward, a government spokesman told reporters after a weekly cabinet meeting.
The project is expected to boost traffic volume between the two countries in both tourism and logistics.
-By Phisanu Phromchanya, Dow Jones Newswire
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