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The loan agreement was signed yesterday by Finance Minister Apisak Tantivorawong and the AfDB's Managing Director for Southeast Asia, Ramesh Subramaniam.
"Transportation infrastructure is an important engine of growth for the Thai economy," Subramaniam said. "The improvement of the country's road network will boost economic growth and improve people's access to economic opportunities and social services, and will help Thailand become a commercial and economic center in the subregion. Greater Mekong (GMS). "
As part of the financing plan, some 125 km of highways will be modernized.
The project follows the success of the AfDB. In 2009, the GMS Highway Expansion project upgraded 178 km of an existing two-lane national highway to a four-lane highway, including Highway 12 between Phitsanulok and Lom Sak (105 km) and Highway 359. from Phanom Sarakham to Sa Kaeo (73 km). These two roads are respectively connected to the GMS East-West Economic Corridor and the GMS South Economic Corridor.
The GMS 2 Road Expansion Project will modernize Highway 22 (Nong Han to Phang Kon and Sakon Nakhon to Nakon Phanom) and Highway 23 (a section of King And Yasothon) to highways two-lane four-lane roads. The project will result in a more efficient and safer transportation system for goods and people. It will also help the government improve road safety and management through safety training and knowledge sharing on road safety.
This project is the first sovereign loan of the ADB to Thailand. exposure to currency risk. The project is expected to be completed in the first quarter of 2022.
The Minister of Transport, Arkhom Termpittayapaisith, senior officials and representatives of the Public Debt Management Office under the Ministry of Finance and the Ministry of Transport also attended signing ceremony in Bangkok.
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