BANGKOK, 26 February 2015 – The Cabinet has approved the borrowing of 40 billion baht for the Ministry of Transport to use in making improvements to highways, and also approved the setting up of a National Savings Fund.
M.R. Pridiyathorn Devakula, Deputy Prime Minister, said after Tuesday’s meeting of economic ministers that the meeting, chaired by Prime Minister Prayut Chan-o-cha, has approved, in principle, the setting up of the National Savings Fund. The draft of the associated bill will be considered by the Cabinet of Ministers on March 4. The National Savings Fund will benefit workers who are currently not covered by provident funds or pension schemes. Around one million persons who are registered with the Social Security Fund will become associated with the National Savings Fund, according to M.R. Pridiyathorn.
Approval was also given for the Ministry of Finance to borrow 40 billion baht to fund highways improvement projects by the Ministry of Transport. The money will be borrowed from abroad, and currency swap will be employed to reduce risks associated with currency values, according to the Deputy Prime Minister.
