Senator urges extension of flood loan deadline
- Published: 21 Oct 2012 at 00.00
- Newspaper section: News
Extending the deadline to acquire a 350 billion baht loan for flood management projects is much needed, says a member of the Senate committee on monetary, finance, banking and financial institutions.
Kamnoon Sidhisamarn, who is also the committee's spokesman, said the government should make a decision right now to extend the deadline so it will not have to pay an unnecessarily high rate of interest.
Mr Kamnoon said if the government is in a hurry to get a big chunk of the loan but cannot allocate it to any projects at the moment, the money would be kept at the Finance Ministry and accrue daily interest.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.
