Bangkok--31 Oct--EXIM Thailand
Mr. Kanit Sukonthaman, President of Export-Import Bank of Thailand (EXIM Thailand), and Mr. Shahid Ali, Managing Director of State Trading Organization Plc. (STO), co-signed a USD 32 million syndicated loan agreement under which EXIM Thailand and Bank of Maldives Plc. join hands to finance the STO’s construction of Radisson Blu Hotel, a new 5-star 250-room hotel in Hulhumale, North Male Atoll, Maldives, at EXIM Thailand’s Head Office on October 30, 2012.
According to EXIM Thailand President, the cooperation between EXIM Thailand and Bank of Maldives Plc., a local bank in Maldives, will help promote Thailand’s export of construction materials and overseas investments engaging Thai contractors. The loan facility will also foster ties between Thailand and Maldives which would bring about enhanced economic development in Thailand, Maldives and Asia as a whole. EXIM Thailand’s loan extension in Maldives includes financing for Maldivian government’s housing development projects as well as hotel and resort construction.