Finance Ministry seeks another THB50bn for flood relief in South
Money will fund soft loans and debt relief for thousands of households and businesses across five inundated provinces
The Finance Ministry will seek Cabinet approval for another 50 billion baht to fund soft loans for flood victims in the South if the current budget of 50 billion for those in the North and Northeast runs out.
Offered through the Government Saving Bank’s GSB Boost Up programme, the low-interest loans aim to support SMEs and individual entrepreneurs in flood-hit provinces, said ministry permanent secretary Lawan Saengsanit,
Severe flooding in northern regions in September and October was followed this month by floods that have submerged large areas of five southern provinces.
In other relief measures, eight state-run banks and financial institutions have restructured 94 billion baht in debt owed by 740,000 flood-hit borrowers.
- The GSB has introduced a debt moratorium for small borrowers and SMEs while lowering interest rates.
- The Bank for Agriculture and Agricultural Cooperatives has extended repayment periods, suspended repayments for farmers, and exempted them from penalty interest.
- The Export-Import Bank of Thailand has rolled over loans for exporters and importers.
- The SME Bank has suspended repayments and approved emergency loans to rehabilitate flood-affected businesses.
- The Thai Credit Guarantee Corporation has introduced measures to assist clients and debtors.
- The Islamic Bank of Thailand has suspended repayments and waived penalties for flood-hit debtors.
- Krungthai Bank has lowered repayments, reduced interest rates, and approved emergency loans for home and asset repairs, as well as boosting liquidity.
