Wednesday, July 28, 2021

business

Borrowers from state agencies to get some respite


The Government Financial Institutions Association (GFA) on Thursday launched new measures to help people who are burdened with debt and whose earnings have been affected by the lockdown.

The government has put Greater Bangkok and deep South under night-time curfew and partial lockdown.

In a bid to help, GFA and affiliated financial institutions will offer a debt moratorium for at least two months to people whose workplaces have had to close due to Covid measures. In other words, people will not have to pay their monthly instalments for two months from July or August.

“Once the moratorium expires, the lenders will not call for payment immediately,” GFA said.

“Financial institutions will also help debtors who can still run their business but whose revenue has dropped due to Covid measures.”

Those requiring assistance can contact their financial institution from July 19 onwards.

"The association and affiliated financial agencies will try to relieve debtors’ burdens as much as possible,” GFA said.

 

Institutions offering the respite include Government Housing Bank, Government Savings Bank, Bank for Agriculture and Agricultural Cooperatives, Export-Import Bank of Thailand, Small and Medium Enterprise Development Bank of Thailand, Islamic Bank of Thailand and Thai Credit Guarantee Corporation.

Published : July 15, 2021

By : The Nation