55% of soft loans go to individual flood victims
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Forty five per cent of the Bank of Thailand's soft loan will go to small and medium-sized enterprises, while the rest to individuals affected by the last year floods.
According to the central bank's announcement, 13 commercial banks are allocated Bt152.8 billion for the relending under the Bt300 billion soft loan programme. The amount accounts for 72.76 per cent of Bt210 billion, to be allocated by the central bank.
Under the programme, financial institutions joining the scheme must contribute over Bt90 billion.
In the announcement, three foreign bank branches are allocated Bt240 million, or 0.12 per cent of the central bank's portion. The remaining Bt56.96 billion or 27.12 per cent of total go to 5 specialised financial institutions.
The financial institutions can reimburse the amounts from March 12 onwards. The central bank will make a quarterly review, to reallocate the funds if one bank could not fully extend the allocated amount while others ask for more.
All the 21 institutions proposed for a total amount of Bt366.4 billion.
