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ADB may be able to raise $1 bn locally

The Finance Ministry may allow the Asian Development Bank to raise US$1 billion (Bt34.24 billion) from investors here over the next 30 years, says its Public Debt Management Office.

Published on October 3, 2007

The ministry is considering permitting the bank to sell bonds worth up to $200 million a year, office director Pongpanu Svetarundra said yesterday as the ADB and Thailand announced a new partnership agreement until 2011.

Selling bonds is part of the development bank's $10-billion Asian currency-note programme that is strengthening regional capital and bond markets.

Already Singapore and Hong Kong have agreed the bank can sell them $1 billion worth of bonds.

Pongpanu said the sales could help Thailand stabilise the baht against the US dollar when the bank swaps baht into dollars to lend to other regional nations.

The ADB's Thailand director, Jean-Pierre Verbiest, said the fund could relend the proceeds of the bonds to private companies or a state enterprise like the Electricity Generating Authority of Thailand.

The strategy partnership sees the bank and the government working together to design integrated mass-transit systems and other regional economic efforts.

Wichit Chaitrong

The Nation

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ADB may be able to raise $1 bn locally

The Finance Ministry may allow the Asian Development Bank to raise US$1 billion (Bt34.24 billion) from investors here over the next 30 years, says its Public Debt Management Office.

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