Japan provides Bt53-bn loan for Red Line train project

The Nation

 

The Red Line commuter train project for the Bang Sue-Rangsit route will be extended a Bt53.48-billion loan by the Japan International Cooperation Agency (Jica) for its construction, with it slated to be operational in 2020.

 

Finance Minister Apisak Tantiworawong and Shiro Sadoshima, ambassador of Japan to Thailand, on Friday signed a cooperation agreement between the two nations for the implementation of the Red Line project's third contract. 

Apisak also signed a contract with Hiroo Tanaka, chief representative of Jica, for a loan to finance the commuter train project.

 

Full Story: http://www.nationmultimedia.com/breakingnews/Japan-provides-Bt53-bn-loan-for-Red-Line-train-pro-30296591.html

 

-- © Copyright The Nation 2016-09-30

That's another way to make a profit out of freshly printed yen.

 

wonder if they will get their money back. have to wonder how many foreign government would be prepared to loan money to a country under the current style of rule (i did not say military dictatorship)

46 minutes ago, BuaBS said:

That's another way to make a profit out of freshly printed yen.

 

I find it amazing for a country whose politicians keep shouting how great tourism and business are here at present that they must "borrow" money for these projects. I just hope the "Big Red Dragon" in China does not hear about this. I am sure they had a cheaper product available at better terms. 

51 minutes ago, williamgeorgeallen said:

wonder if they will get their money back. have to wonder how many foreign government would be prepared to loan money to a country under the current style of rule (i did not say military dictatorship)

1) it's worthless money , printed out of nothing .... what can you loose ? Nothing!

2) Thailand is in far , far , faaaaaar , FAR better shape than bankruped , irradiated Japan.

3) "current style of rule "  is still better than the 2 previous "elected" government.

Thailand may not have the 53 Bil THB at hand because they don't suck their people dry with taxes.

1 hour ago, BuaBS said:

1) it's worthless money , printed out of nothing .... what can you loose ? Nothing!

2) Thailand is in far , far , faaaaaar , FAR better shape than bankruped , irradiated Japan.

3) "current style of rule "  is still better than the 2 previous "elected" government.

Thailand may not have the 53 Bil THB at hand because they don't suck their people dry with taxes.

ok but you have to wonder why thailand dosent print their own money to do it?

4 hours ago, williamgeorgeallen said:

ok but you have to wonder why thailand dosent print their own money to do it?

When a small economy like Thailand prints like the BOJ, ECB, BOE or the FED , they're in the fast lane to be the next Zimbabwe or Venezuela.

Soon you'll be paying a 10 million THB note for that aweful Farmhouse bread.

1 minute ago, BuaBS said:

When a small economy like Thailand prints like the BOJ, ECB, BOE or the FED , they're in the fast lane to be the next Zimbabwe or Venezuela.

Soon you'll be paying a 10 million THB note for that aweful Farmhouse bread.

yea but on the surface it seems like a good idea. surprised who ever is in charge of feeding money into the economy hasnt tried it before. the whole worlds financial system is flawed with artificially low interest rates and debt enslavement. result is boom and bust cycles transfusing money from the lower and middle classes to the rich.

23 hours ago, snoop1130 said:

Bt53.48-billion loan

No transparency on the loan terms.

Thank you Prayut for your new reforms.

6 hours ago, BuaBS said:

Thailand is in far , far , faaaaaar , FAR better shape than bankruped , irradiated Japan

Actually the Japanese government will likely sell Japanese treasury bonds to generate the cash that is loaned to Thailand, albeit probably at higher interest rates to generate a profit to the Japanese treasury -  contributing to Japan's GDP growth rate.

 

If Thailand was in so much better economic shape than Japan, Prayut's government would sell its own treasury bonds for the cash and/or use domestic investment.

 

PS: Japan is not irradiated any more than is Russia because of Chernobyl or the USA due to Three Mile Island. But not a bad irrelevant, off-topic comment.

4 minutes ago, Srikcir said:

Actually the Japanese government will likely sell Japanese treasury bonds to generate the cash that is loaned to Thailand, albeit probably at higher interest rates to generate a profit to the Japanese treasury -  contributing to Japan's GDP growth rate.

 

If Thailand was in so much better economic shape than Japan, Prayut's government would sell its own treasury bonds for the cash and/or use domestic investment.

 

PS: Japan is not irradiated any more than is Russia because of Chernobyl or the USA due to Three Mile Island. But not a bad irrelevant, off-topic comment.

Chernobyl was in the Ukraine . They're still looking for some reactor cores in Fukushima ... the media blackout of Japan' s "mishap" is working well , I see .

 

Maybe the Jap loan has a lower interest rate .... like near zero   5555

That's what banking is all about , creating interest out of made up money : fractional banking . Or laundering freshly created money through loans.

 

......wow.....

 

...are the competing against China.....???

 

...or is Thailand taking funds from everywhere...???

3 hours ago, Srikcir said:

No transparency on the loan terms.

Thank you Prayut for your new reforms.

The loan terms are stated in the press release and are also searchable on the JICA website - https://www2.jica.go.jp/en/yen_loan/index.php/module/search?anken_name=&area1=0&area2=0&area3=0&country1=49&country2=0&country3=0&section1=0&section2=0&section3=0&industry1=0&industry2=0&industry3=0&anken_kubun=0&chotatsu_kubun=0&from_year=&to_year=&submit=Search

2 hours ago, planr said:

The loan terms are stated in the press release and are also searchable on the JICA website - https://www2.jica.go.jp/en/yen_loan/index.php/module/search?anken_name=&area1=0&area2=0&area3=0&country1=49&country2=0&country3=0&section1=0&section2=0&section3=0&industry1=0&industry2=0&industry3=0&anken_kubun=0&chotatsu_kubun=0&from_year=&to_year=&submit=Search

Guess too m uch effort for Tha Nation to mention details. Thanks.

Interesting that the "Loan Approval" was done 2015/06/12 .

When is the red line going to operate?
And where exactly does it connect to other transport systems?
I'm thinking to move close to one of their stations, probably Thung Song Hon