Thailand's weekly cabinet meeting on Tuesday approved a plan to borrow foreign loans worth of US$2 billion to finance investments in mega projects in a bid to boost the domestic sluggish economy.

A source of the loans is from the World Bank, Asian Development Bank and the Japan International Cooperation Agency, the website by Thai-language newspaper Krungthep Turakij reported.

It is expected that the Thai government will be able to withdraw the loans from the three institutions during the third quarter of this year.

The huge foreign loans to finance investments in mega projects is parts of the Thai government's attempts to shore up the country 's economy as other key sources of the economic growth include the exports, private investments and tourism industry have been hard hit by the rising global economic turmoil.

(Xinhua News Agency March 10, 2009)