Japan and North Korea have offered loans for Thailand's multi-billion-baht megaprojects to expand the transport infrastructure, Transport Minister Santi Prompat said. Representatives of the Japan Bank for International Cooperation (JBIC) met the minister in Bangkok yesterday.
The JBIC offered loans for the nine railway projects Prime Minister Samak Sundaravej has proposed for greater Bangkok. The projects are estimated to be worth 700 billion baht.
Mr Santi said the JBIC confirmed it would sign a contract with Thailand this month for the disbursement of its first batch of loans worth 18 billion baht for the Purple Line section from Bang Sue, Bangkok, to Bang Yai in Nonthaburi.
The JBIC is also interested in extending loans for projects of the State Railway of Thailand and in giving both financial and technical support to the expansion of Suvarnabhumi airport.
The airport expansion plan includes building a third runway and a satellite passenger terminal.
Mr Santi said the government had already prepared the investment for the third runway and it would need financial support for the construction of the additional terminal.
Apart from JBIC, many other financial institutions were offering loans for the airport's expansion, he said.
The minister said the expansion project had to start right away because it would take five to six years to complete.
He warned that a few years' delay could undermine Thailand's goal to be an air transport hub for the region.
Yesterday, Mr Santi also received a North Korean government representative who informed him of North Korea's intention to provide loans to Thailand for mass transit projects.
He said the government should be open to offers of financial support from other countries too.
