Bankers support Govt's infrastructure investment
Bankers showed support to the government's infrastructure development scheme, with confidence that it will lift the quality of living and Thailand's connectivity to the region.
Still, at the special dinner on Wednesday night with Prime Minister Yingluck Shinawatra, the Thai Bankers Association vowed to take a close look at the investment details to ensure transparency of the investment.
Kannikar Chalitaporn, president of Siam Commercial Bank, said that Thailand should not lose the opportunity to be the Asean hub.
Vorapak Tanyawong, president of Krung Thai Bank, said the investment should boost the quality of living of all Thais.
Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong told the bankers that if the Bt2 trillion borrowing bill is passed, at least Bt350 billion will be injected into the economy within 2014.
According to TBA secretary general Twatchai Yongkittikul, during the dinner, Yingluck highlighted the necessity of the investment. She also promised to ensure transparency through the cooperation with the Anti-Corruption Organisation of Thailand. Bankers were also informed that most of the fund will be raised in the domestic market. Tentatively, about 40 per cent would be raised through dollar-denominated bonds, to match the imports of construction materials and machinery.
On the proposed channeling of foreign reserves to finance the scheme, they said that could be done only after a legal amendment.