Bangkok: The Treasury Department is taking immediate steps to provide assistance following the issuance of measures aimed at mitigating the impact of the 2025 earthquake. These measures include suspending all principal payments and reducing interest rates to 0% for up to three months. Additionally, the Office of the Insurance Commission (OIC) is swiftly inspecting and compensating the State Audit Office building.
According to Thai News Agency, Mr. Pornchai Thiravet, a spokesman for the Ministry of Finance, outlined the progress of critical measures by the Ministry of Finance, state banks, and the Office of the Insurance Commission (OIC) on March 29, 2025. These measures aim to alleviate the suffering of various groups and related business operators.
The Comptroller General's Department has expanded its government reserve fund to provide emergency assistance to disaster victims, including those in Bangkok and 76 provinces. A budget of 200 million baht has been allocated for living and work expenses under the authority of the Director-General of the Department of Disaster Prevention and Mitigation.
Specialized financial institutions like the Government Savings Bank are implementing measures to ease the burden on current debtors by suspending principal payments and reducing interest rates for home loans, People's Bank loans, and SME loans. Emergency loans of up to 20,000 baht with 0% interest are also available for home repairs and business rehabilitation.
The Bank for Agriculture and Agricultural Cooperatives has introduced the Emergency Expense Loan Project 2025 to enhance farmers' liquidity, with a credit limit of up to 50,000 baht per individual. Loans for repairing houses and damaged agricultural tools are also available, with limits up to 500,000 baht.
The Government Housing Bank (GHB) is offering loan projects to assist housing affected by disasters, including reductions in installments and loan interest rates for existing customers, as well as new loans for home repair and rebuilding.
The Small and Medium Enterprise Development Bank of Thailand is providing measures to suspend principal and interest payments, along with emergency capital replenishment for affected businesses. The Islamic Bank of Thailand (IBOT) and Export-Import Bank of Thailand (EXIM) are also extending support through specialized loan measures and credit line increases.
Insurance measures are being implemented by the OIC, which has coordinated with insurance companies to set up a relief center for victims. They are also monitoring the financial status of these companies to ensure stability and timely compensation for affected individuals.
The Bank of Thailand has requested cooperation from financial institutions and business operators to reduce the minimum credit card debt repayment rate, provide emergency credit lines, and offer financial assistance for home repairs and business continuity.
The Finance Ministry reassures the public of Thailand's strong and stable economic system. Deputy Prime Minister and Finance Minister Mr. Pichai Chunhavajira emphasized the readiness of government agencies to manage the situation effectively, with ongoing monitoring and updates to be provided as necessary.