Cabinet nod for state-bank relief measures for flood victims
The Cabinet Tuesday gave a green light to state-run banks to extend loans worth about Bt30 billion for flood-affected farmers and small and medium-sized enterprises (SMEs) in the South.
Nattaporn Jatusripitak, adviser to the commerce minister, said the Cabinet had agreed on a debt moratorium and interest-rate cut to flood-affected farmers in the South and Prachuap Khiri Khan province.
The move came after discussions between the Agriculture and Cooperatives Ministry, Finance Ministry and Bank for Agriculture and Agricultural Cooperatives to relieve flood victims’ debt burden and reduce costs for production efficiency and living.
Some 212,850 people are targeted.
The deadline for principal repayments due by December 31 is being extended by up to two years, for unlimited sums. Farmers are however still required to pay accrued interest due by January 1.
Farmers without non-performing loans (NPLs) will see an interest-rate grace period for loans worth up to than Bt300,000, for two years to the end of 2018.
