Bangkok: The government has instructed eight state banks to swiftly implement measures to provide relief to those impacted by the recent earthquake. This includes actions such as debt suspension, interest reduction, emergency loans, and accelerated compensation payments to affected customers.
According to Thai News Agency, the Deputy Government Spokesperson, Mr. Anukul Prueksanusak, disclosed that state financial institutions are working diligently to extend relief measures for the affected population. The Government Housing Bank (GHB) has announced a series of initiatives aimed at aiding customers and residents in the earthquake-affected regions. These measures include debt suspension, interest reduction, loans for repairs and construction, and compensation payments. Specific provisions include a reduction in installments and interest rates for current customers, additional loans for both current and new customers, and debt restructuring options for non-performing loan customers.
The Small and Medium Enterprise Development Bank of Thailand (SME Bank) has introduced measures to suspend principal and interest payments for 12 months and offer loans for business repair and rehabilitation. The measures are designed to alleviate financial burdens by allowing businesses in disaster areas to defer payments and secure emergency funding to restore their operations.
The Small Industry Credit Guarantee Corporation (TCG) and Export-Import Bank of Thailand (EXIM BANK) have also introduced relief measures. TCG is offering a suspension of fees and debt payments, while EXIM BANK is focusing on increasing liquidity and relaxing interest rates for affected businesses. These banks aim to provide urgent assistance to customers by easing financial constraints and facilitating business recovery.
The Bank for Agriculture and Agricultural Cooperatives (BAAC) has allocated a 20 billion baht credit line for emergency and rehabilitation loans, providing financial support to those in need. These loans are aimed at covering emergency expenses and restoring the quality of life of those affected by the earthquake.
Savings Bank and the Islamic Bank of Thailand (IB) are also participating in the relief efforts. Savings Bank is offering debt relief measures and loans for home repairs and business rehabilitation, whereas IB is providing options for postponing payments and offering loans for repair and business rehabilitation.
Krungthai Bank Public Company Limited has implemented measures to reduce the financial burden on its customers by lowering installment payments and offering favorable interest rates for home and SME loans.
Mr. Anukul emphasized the government's commitment to supporting earthquake victims, particularly in terms of housing and business recovery. State banks are prioritizing relief efforts to mitigate the impact on affected individuals and businesses, encouraging them to reach out for assistance based on their eligibility.