Cabinet Approves $4.7 Billion World Bank Loan For Southern Bridges
Thailand's cabinet approved a $4.7 billion World Bank-backed financing package for two major southern bridges, including a new crossing to Ko Lanta in Krabi and a span across Songkhla Lake connecting two provinces.
The cabinet has approved 4.679 billion baht for two major infrastructure projects by the Rural Roads Department: a bridge connecting Ko Lanta in Krabi and a bridge spanning Songkhla Lake linking Songkhla and Phatthalung provinces. Deputy Government Spokesperson Ploytale Laksameesangjun announced that the cabinet approved the projects with World Bank financing totaling 140.76 million US dollars (approximately 4.55 billion baht) in loans and 4 million US dollars (approximately 129.3 million baht) in grants from the IBRD.
The cabinet also approved loan agreements and grant agreements for both projects, including the Ko Lanta Bridge connecting tambon Ko Lanta Klang and tambon Ko Lanta Noi in Amphoe Ko Lanta, Krabi, and the Songkhla Lake Bridge connecting Amphoe Krasaesindhru in Songkhla and Amphoe Khao Chaison in Phatthalung. The projects will use arbitration for dispute resolution under World Bank conditions.
The cabinet authorized the Minister of Finance or their designee to sign loan and grant agreements, tasked the Office of the Council of State with preparing legal opinions for both projects, and assigned the Rural Roads Department, Department of Marine and Coastal Resources, Department of National Parks, and Department of Fisheries to fulfill their responsibilities under the project administration manual and World Bank regulations.
