ADB to raise fund by US$1 billion in Thailand

Finance Ministry on Tuesday plans to approve Asian Development Bank to raise fund in Thailand by US$1 billion or around Bt35 billion over the next 30 years.

Pongpanu Svetarundra, director general of the ministry's Public Debt Management Office, said the fund raising is in addition to Bt6.5-billion baht bonds which have been issued in 2006 by ADB.

He said this is part of ADB plan to raise fund totaling US$10 billion in Asian region. Aside from Thailand, ADB has agreed to raise fund in Malaysia, Singapore, and Hong Kong by US$1 billion each. Pongpanu said, however, both baht bond scheme as well as the new fund raising project of ADB are aimed to promote Asian Bond Fund.

ADB would use the fund to be raised for local financing or lend in overseas markets. - The Nation

Wichit Chaitrong

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ADB to raise fund by US$1 billion in Thailand

Finance Ministry on Tuesday plans to approve Asian Development Bank to raise fund in Thailand by US$1 billion or around Bt35 billion over the next 30 years.

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