Soft Loans for Flood Victims Running Low
Bangkok Post | The Bank of Thailand’s THB 210 billion soft-loan scheme for flood rehabilitation has only THB 2.2 billion left, which will be relocated to other flood victims, said Pongpen Ruengvirayudh, deputy governor for financial institutions stability.
According to the Bangkok Post, banks should inform applicants they might not be granted soft loans immediately as banks have withdrawn almost all of the soft loans from the central bank. However, they could receive loans next year as the Bank of Thailand would allocate the money paid by existing borrowers to prospective borrowers.
The central bank will close the soft loan program at the end of next year. Since banks began to draw on the funds on March 12 some 520,000 flood victims have received soft loans.
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