Thai Cabinet OKs borrowing $68B for megaprojects

Published March 19, 2013 1:48pm ET



BANGKOK (AP) — Thailand’s Cabinet has approved a plan to borrow $67.6 billion to build high-speed train lines and other transportation mega-projects over the next seven years.

Prime Minister Yingluck Shinawatra said Tuesday the government will borrow from domestic and foreign sources, rather than go through the annual budget process, to ensure the continuity of the infrastructure expansion and give investors confidence. Parliament must approve the financing plan.

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