WB loan Bangkok

WB loan Bangkok

BANGKOK (AFP): The World Bank said yesterday it had approved a US$145 million loan to Thailand's Metropolitan Electricity Authority (MEA) to upgrade the efficiency of the distribution system in Bangkok.

The World Bank said the loan was part of its efforts "to foster more efficient and environmentally friendly growth in years ahead," as rapid growth in East Asia has led to pollution, land degradation and deforestation.

"By improving the power supply in an environmentally sustainable manner, the project will benefit Bangkok's development and ensure Thailand's continued economic growth," the bank said in a statement received here yesterday.

Improving system reliability will also translate into substantial economic benefits, especially for industrial and commercial consumers, it said.

Thailand's demand for power has grown at about 12 percent a year over the last decade, the bank said.