Thailand’s Finance Ministry plans to launch an ambitious debt relief initiative titled “You Fight, We Help”, targeting retail debtors, homeowners, car owners, and small businesses. The project has already been approved by the Cabinet.
“We recognize the importance of solving people’s debt problems and believe this measure will help alleviate suffering and improve people’s well-being,” Finance Minister Pichai Chunhavajira says.
The Thai government hopes to help 1.9 million debtors who owe a combined debt of approximately 890 billion Thai baht (about 26 billion USD).
The program will be funded through a number of sources, including a 50% reduction in contributions from the Financial Institutions Development Fund, government loans, and soft loans from the Government Savings Bank.
Source: The Nation (Thailand)
