Thailand has approved the start of negotiations to borrow up to 2 billion dollars from international financial institutions as the global economic slowdown starts to bite.
Lawmakers voted in favour of the Government's moves to talk to foreign financial bodies following an eight hour joint session of parliament that ended late on Tuesday, officials said. Finance Minister Korn Chatikavanij told parliament that the loans were necessary to push forward with infrastructure projects because Thailand was feeling the effects of the world financial crisis. 'The Government needs to ask to borrow from financial institutions to push its planned policies and create efficiency,' Mr Korn said.