ADB loan for Thailand

Wed, 19 Oct 1994 | Source: AFP

MANILA (AFP): The Asian Development Bank (ADB) yesterday approved a US$38.5 million loan to Thailand for a water supply project, the Philippines-based lending institution said.

The project will expand and improve the production and distribution facilities of the provincial waterworks authority in Chonburi, in the country's rapidly-growing eastern seaboard, an ADB statement said.

The 25-year loan, guaranteed by the Thai kingdom, carries a five-year grace with interest to be determined according to the bank's pool-based variable lending system.

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