Bt4-bn Burma loan fine: Exim
The Export-Import Bank of Thailand (Exim) said it would extend full cooperation to the Assets Examination Committee (AEC) in its investigation into the bank's Bt4-billion term loan to Burma.
Apichai Boontherawara, president of Exim, said that as a state-owned financial institution under the Finance Ministry's supervision, the bank has given top priority to corporate governance principles. The bank had supported Thai export and investment overseas as well as the promotion of intra-regional economic development in the Greater Mekong Sub-region and Asean, he said. Exim's Bt4-billion loan with a repayment term of 12 years was officially granted to the Myanmar Foreign Trade Bank (MFTB) for road construction and infrastructure development in June 2004. MFTB is a state bank designated to allocate loan funds extended to various Burmese government agencies for use in the procurement of capital goods and services originating from Thailand. According to Apichai, Exim had provided financial support to Thai exporters and investors under the procurement contracts granted by the Burmese government worth Bt3.934 billion. A total draw-down amount of Bt2.9 billion had been made with all four instalments of interest payment satisfactorily fulfilled, he said.
|
