ID :
45036
Wed, 02/11/2009 - 10:33
Auther :
Shortlink :
https://oananews.org//node/45036
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Government to borrow over US$ 100 million from overseas
Government to borrow over US$ 100 million from overseas
(KPL) Lao Government plans to borrow over US$100 million from overseas, in its attempt to drive 98 development projects this year.
The amount of figure was disclosed by Head of External Finance Division attaches to the Ministry of Finance, Ms. Thipphakone Chanthavongsa.
Ms. Thipphakone continued that the government was receiving US$ 75 million of grant aid from International Organisation which described to increase US$ 57 million compared last year.
And for the rest, the government plans to borrow US$ 178.3 million from overseas such as international financial institutes. This money compared to the same period is to decrease US$ 5 million.
She added that the National Assembly has endorsed 764 projects for 2008-2009 period in which the public works sector needs to spend 130 billion kip or covered by 35.4 per cent of state budget and agricultural sector is 18.7 per cent, according to the Ministry of Planning and Investment.
In addition, the government will inject more money into the public works and transport, health and agriculture and forestry sectors, said Ms. Thipphakone.
The last year, the government spent US$ 248 million of loan and grant on the development projects in Laos. This figure was 2.5 per cent surplus, according to Ms. Thipphakone.
The grant aids and loans are expected to be funded by Asian Development Bank, French Development Agency, World Bank, International Fund for Agricultural Development, Swedish International Development Agency, Japan and China.
(KPL) Lao Government plans to borrow over US$100 million from overseas, in its attempt to drive 98 development projects this year.
The amount of figure was disclosed by Head of External Finance Division attaches to the Ministry of Finance, Ms. Thipphakone Chanthavongsa.
Ms. Thipphakone continued that the government was receiving US$ 75 million of grant aid from International Organisation which described to increase US$ 57 million compared last year.
And for the rest, the government plans to borrow US$ 178.3 million from overseas such as international financial institutes. This money compared to the same period is to decrease US$ 5 million.
She added that the National Assembly has endorsed 764 projects for 2008-2009 period in which the public works sector needs to spend 130 billion kip or covered by 35.4 per cent of state budget and agricultural sector is 18.7 per cent, according to the Ministry of Planning and Investment.
In addition, the government will inject more money into the public works and transport, health and agriculture and forestry sectors, said Ms. Thipphakone.
The last year, the government spent US$ 248 million of loan and grant on the development projects in Laos. This figure was 2.5 per cent surplus, according to Ms. Thipphakone.
The grant aids and loans are expected to be funded by Asian Development Bank, French Development Agency, World Bank, International Fund for Agricultural Development, Swedish International Development Agency, Japan and China.
