NEDA explains 18.2m-baht Cambodia interest budget for 2027

Thailand’s Neighbouring Countries Economic Development Cooperation Agency (NEDA) said on Monday (September 14, 2026) that an 18.20 million baht allocation for fiscal 2027 covers existing interest obligations linked to two completed projects in Cambodia. The money will be paid to the Export-Import Bank of Thailand (EXIM Thailand), rather than transferred directly to the Cambodian government, according to NEDA’s clarification.

Kirati Veruwan, vice-president of NEDA, said references to a 31 million baht budget had created the impression that Thailand was providing fresh financial assistance directly to Cambodia.

NEDA’s fiscal 2027 allocation for interest-rate compensation totals 30.72 million baht: 12.52 million baht for two projects in Laos and 18.20 million baht for two projects in Cambodia. The agency said the Cambodia-related amount fulfils existing financing commitments.

EXIM Thailand would bear the impact of withheld compensation

EXIM Thailand would be affected if the 18.20 million baht in Cambodia-related interest compensation were withheld, NEDA said, because the payment is owed to the Thai lender under existing arrangements. NEDA added that Cambodia had consistently repaid principal and interest on the two projects covered by the fiscal 2027 allocation, with no history of default.

Cambodia-related payments cover two completed projects

According to NEDA, both Cambodian infrastructure projects covered by the fiscal 2027 allocation were completed years ago. The commitments arise from Thailand’s infrastructure lending to Cambodia under Cabinet approvals in 2006 and 2015.

Road 67 improvement project, Siem Reap–Anlong Veng–Choam/Sa Ngam: NEDA’s fiscal 2027 interest-compensation request is 12.00 million baht. A 2006 Cabinet resolution approved a 1.30 billion baht loan at 1.5% annual interest over 30 years, with EXIM Thailand lending directly to Cambodia. Outstanding principal stands at 648.34 million baht, according to NEDA.

Stung Bot permanent border checkpoint and connecting road to National Road 5: NEDA’s fiscal 2027 interest-compensation request is 6.20 million baht. A 2015 Cabinet resolution approved a 928.11 million baht loan at 1.5% annual interest over 25 years. NEDA borrowed from EXIM Thailand to finance the project and applies annually for interest-rate compensation; outstanding principal is 720.90 million baht, the agency said.

NEDA said it had already explained during budget scrutiny that the funds compensate the financial institution involved in the lending arrangements. Describing either 18.2 million baht or 31 million baht as a direct payment of aid to the Cambodian government could therefore mislead the public, the agency said.

NEDA reports no additional cooperation since border dispute

“Since the Thai–Cambodian border dispute began, NEDA has not approved new loans, made further disbursements or carried out additional cooperation projects with Cambodia,” the agency said.

NEDA said its financial cooperation with neighbouring countries supports infrastructure, transport connectivity, trade, investment and regional logistics, taking account of Thailand’s development strategy while promoting international economic cooperation.

All NEDA projects operate within the relevant laws, regulations, criteria and government review procedures, the agency said.

NEDA said it welcomed public views and concerns and was willing to disclose project details, financing terms and operational information where permitted, to provide accurate, complete and verifiable information.