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Govt earmarks Bt2 billion for state-backed pawn shops

May 25. 2020
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By THE NATION

A Cabinet meeting has approved the Social Development and Human Security Ministry’s proposal to provide soft loans to state-backed pawn shops totalling Bt2 billion, Minister Juti Krairiksh said on Sunday (May 24).

“We proposed that the Government Savings Bank provide the loans at an ultra low interest rate to pawn shops to enable them to serve increasing customers in this Covid-19 situation,” he said. “The Finance Ministry will act as the guarantor for these loans to speed up the process and allow people access to this money as soon as possible.”

Juti said the programme is in line with Prime Minister General Prayut Chan-o-cha’s policy to have state-backed pawn shops provide services to people in the present situation at the lowest interest rate possible.

“Under this programme, the ministry’s pawn shops will offer the lowest interest rate among all pawn shops in the country,” he added.

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