Cabinet okays 55bn baht for GHB’s ‘Happy Home, Happy Life’ project
The government bank will grant loans for new homes and for the refurbishment of old homes at low interest rates to help low-income earners
The Cabinet on Tuesday earmarked 55 billion baht for the Government Housing Bank (GHB) to hand out as soft loans to home buyers and homeowners who want to repair their premises.
Deputy Finance Minister Paopoom Rojanasakul said the Cabinet approved the Finance Ministry’s proposal to allow the bank to continue its popular and successful Happy Home, Happy Life project, which recently expired.
He said two new measures under the project are:
Loans for buying and building new homes: The Cabinet has allocated 50 billion for the GHB to provide soft loans at 3% per annum for five years with a maximum loan of 3 million baht. These funds can be used to buy new houses, flats or plots of land to build houses on.
Loans for repairing houses: The Cabinet has approved 5 billion for the GHB to grant soft loans at 1% per annum for three years with a maximum loan amount of 100,000 baht.
Paopoom said the aim is to help low-income people own homes or repair their homes, which in turn will serve to stimulate the economy.
