Proper procedure for loans
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The spending plans under the Bt2-trillion infrastructure loan bill will have to pass through prescribed procurement procedures without exception, the government said yesterday.
“The scrutiny of projects financed by the loan bill must meet the same standard as other budget disbursements,” said Voravidh Champeeratana, director of the Budget Bureau.
The Finance Ministry would have to seek Cabinet approval for every project under the seven-year policy, he said.
The borrowing for each fiscal year will be flexible, hinging on the prevailing economic climate and the precedents set by Thai Khem Khaeng, a similar loan scheme, he said.
The National Economic and Social Development Board will screen each project ahead of Cabinet consideration, said Chanvit Amatamatucharti deputy secretary-general of the state planning agency.
