Lao-China Railway Project

Laos And China Come to Terms on Loan Interest Rate For Railway Project

Date of Release: 
Jan 4 2016

"The Chinese offered us a loan with a three-percent interest rate, but we proposed that they reduce it," Somsavat Lengsavad, the country's deputy prime minister who oversees the Lao-China railway project, told the National Assembly on Dec. 11. "The rate, however, was not a barrier, and after we sent our delegation to negotiate, we finally reached an agreement on loan."? ?

Somsavat did not mention what the agreed-upon interest rate was on the U.S. $480 million loan from China, which Laos will back with five of its potash mines.

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