BREAKING NEWS

Thailand approves $645 mln for initial post-flood recovery

By REUTERS

DECEMBER 12, 2011 10:13

BANGKOK - The Thai cabinet on Monday approved a plan to disburse 20 billion baht ($645 million) rapidly for initial post-flood rebuilding and to stimulate the economy, Prime Minister Yingluck Shinawatra said.

"This is part of an emergency plan of the government's flood relief program. It is part of 60 billion baht budget approved earlier," Yingluck told reporters after a special meeting.

The remainder of the budget would be approved in stages later because affected provinces and government agencies have to review the funds needed for post-flood recovery to avoid any duplication, Yingluck said.

Government spokeswowan Thitima Chaisang said the 20 billion baht would be spent by the end of Janaury 2012 to help stimulate the economy, improve the quality of life. Spending would also target some public infrastructure projects.

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