Bangkok--24 May--Bangkok Bank
Bangkok Bank Executive Vice President Chansak Fuangfu (left), B.Grimm Power Public Company Limited PresidentPreeyanart Soontornwata (2nd from left), SV Group Company Limited Chairman of the Board of Directors Xaysongkham Vorachith (2nd from right), and Export-Import Bank of Thailand (EXIM Thailand) President Pisit Serewiwattana (right)signed a USD 41.60 million (Baht 1,435.2 billion) financial support agreement to fund the development of a 20.10 megawatt hydro power plant in Champasak province, the Lao People's Democratic Republic. The project, which is a joint-venture between B.Grimm Power and SV Group, will play a vital role in the country's economic development as it will provide additional electricity to the grid, in line with the government's policy to encourage electricity production from small-sized hydro power plants in rural areas. This financial support will play an important part in driving the renewable energy business in Laos.