The Cabinet yesterday approved borrowing a total of US$170.30 million (Bt5.62 billion) from the World Bank and the Asian Development Bank to finance the construction of four expressways.
Deputy government spokesman Phumin Leetheerapra said the $79.30-million loan from the World Bank would be for 15 years, including a five-year grace period, with an average interest rate of 0.91 per cent per annum. The $77.10-million loan from the ADB is for the same duration and the interest rate would be in line with the US floating rate.
Last week, the Cabinet had cancelled the loan. However, the finance minister insisted that loans from the two banks, for the construction of expressways, is the most appropriate means of financing the projects.
Parliamentary approval is necessary for the two loan deals, he said.
The Cabinet also approved some programmes to ease pollution in Map Ta Phut and Rayong. The Education Ministry is to consider the consolidation of universities in the province to provide occupational health, environment and other studies.
The ministries of public health and natural resources and environment are to present concrete measures to ease health problems, probably through a special medical unit. The Interior Ministry was also instructed to find ways to establish a special regulatory unit to improve the province's administration.
The Cabinet also approved a budget of Bt90 million for the Science Ministry's recycling project to turn dried longans in the government's stock to biomass energy.
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