Lao Government to negotiate for lower interest-rate rail loan
The Lao Government has entrusted a committee in charge to negotiate with China to lower the interest rate of a loan Laos intends to borrow from China to develop the planned Laos-China rail project.
Minister of Public Works and Transport Dr Bounchanh Sinthavong told the recent annual meeting of the cabinet that the Chinese side has agreed to provide a 20-year US$500 million loan at an interest rate of three percent.
In a resolution of the meeting issued recently, the cabinet told the committee to negotiate with China to lower the interest rate.
