BANGKOK, Dec 24 (TNA) – The Thai Cabinet on Tuesday approved financial assistance to Lao PDR for the fifth Thai-Lao Friendship Bridge construction project, linking Bueng Kan and Bolikhamsai.
President of the Neighbouring Countries Economic Development Cooperation Agency Public Organization (NEDA), Peerames Vudthitornetiraks said the fifth Thai-Lao Friendship Bridge had been approved in principle in the Cabinet’s resolution on June 4 this year. The Thai Transport Ministry was assigned to implement the project on the Thai side with the budget of 2.63 billion baht.
On the Lao territory, the Lao government will be given soft loan through NEDA.
The construction of the bridge will take about three years. It will support connectivity and border trade between Thailand and Laos and also promote logistics to Vietnam and China.
The NEDA president added that the Cabinet also gave the greenlight to provide financial assistance to Myanmar for the town development as part of cooperation under the third phase of the Greater Mekong Subregion economic corridor.
Under the plan, Peerames said the project in the third phase will be implemented in Myawaddy, focusing on infrastructure development to improve tap water system and waste management.
The funding will be provided in the form of parallel financing with the Asian Development Bank (ADB). (TNA)
