Laos US$5 Billion Loan Approved

FAR EAST CORRESPONDENT — A U.S. $5 billion dollar loan for construction of a rail link across southern Laos between Thailand and Vietnam has reportedly been approved. The loan is worth more than half of Laos’ total Gross Domestic Product.

New Zealand group Rich Banco Berhad has apparently approved the loan to Malaysian-based Giant Consolidated, which will build the 220-kilometer track linking the two borders. However, details surrounding the deal, the bank and its relationship with the Malaysian group are sketchy at best.

Read more from Luke Hunt in The Diplomat.

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Luke Hunt is a foreign correspondent, author and occasional photographer who has covered much of Asia fr the last 30 years.

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