Bank of Thailand to ensure help is provided to flood victims
Commercial banks to be encouraged to provide funding for repairs and ease the restrictions on personal loans
Measures are to be put in place urgently to alleviate the suffering of those affected by the recent floods, the Bank of Thailand said on Tuesday.
Suwannee Jatsadasak, assistant governor of the central bank’s supervision group, said the central bank would issue a circular letter to commercial banks and financial institutions, asking them to assist flood victims.
Initially, the urgent measures for flood victims will include:
- Offering funds for repairing residences or recovering business
- Reducing credit card minimum repayment to below 8% for one year
- Relaxing the regulations on granting personal loans to victims
According to the Department of Disaster Prevention and Mitigation, flooding from August 16 to 26 killed 22 people and injured 19 others in 13 provinces.
As many as 30,953 households in Chiang Rai, Chiang Mai, Phayao, Nan, Lampang, Phrae, Sukhothai, Phetchabun, Udon Thani, Rayong, Phuket, Yala and Nakhon Si Thammarat were affected by the floods.
