BANGKOK, Nov 17 (NNN-TNA) – Thailand’s Ministry of Finance and the Asian Development Bank (ADB), inked an agreement yesterday, for Thailand to secure a loan of 1.5 billion U.S. dollars, to salvage an economy badly hit by the COVID-19 pandemic.
“The 1.5 billion U.S. dollar-loan was part of Thailand’s one trillion baht (33 billion U.S. dollars) emergency borrowing scheme, to combat the impact of the pandemic,” said Finance Minister, Arkhom Termpittayapaisith, after he signed the loan deal with Hideaki Iwasaki, ADB country director for Thailand.
The loan for the COVID-19 Active Response and Expenditure Support Programme, will mainly focus on securing public health, compensation for those affected by the virus, and economic stimulus packages, to revive the economy, said the finance minister.
Public Debt Management Office director-general, Patricia Mongkhonvanit, said that, the Thai government had already made a loan of 338 billion baht (11.1 billion U.S. dollars) out of the proposed one trillion baht (33 billion U.S. dollar)-loan.– NNN-TNA
