State Bank issues loans to repatriate Thai workers

Bangkok, The Cabinet supports state banks in issuing repatriation loans for Thai (Israeli) workers in the amount of 2 billion baht, charging interest at 1 percent, reducing principal and interest.

Mr. Paophum Rojanasakul, Secretary to the Minister of Finance, revealed that the Cabinet meeting approved the Thai Workers (Israel) Repatriation Loan Project to start a career after returning to Thailand. The Government Savings Bank and the Bank for Agriculture and Agricultural Cooperatives (BAAC) support loans totaling 2,000 million baht (1,000 million baht each) to Thai workers. If doing business or self-employment Apply for a loan through Government Savings Bank If you are a farmer or a person in a farmer's household Apply for a loan through the BAAC, not more than 150,000 baht per person, interest calculated at the rate of 1 percent per year (Effective Rate), no repayment of principal for up to 12 first installments, repayment period not more than 20 years, can apply. Apply for a loan until June 30, 2024.

The Ministry of Finance expects that The Thai Workers Return Loan Project (Israel) will be able to adequately assist Thai workers returning from Israel through low-interest funding sources. This will help relieve the suffering of Thai workers returning to the country with sufficient liquidity to start a career or alleviate the debt burden of Thai workers.

Source: Thai News Agency