Cabinet Approves B15bn Loan Programme for Street Vendors
Government initiative to alleviate informal debt and support small businesses
On November 13, 2024, the Thai cabinet approved a 'Job Creation and Career Building' loan programme totaling 15 billion baht, aimed at supporting street vendors and hawkers and alleviating informal debt.
Deputy Finance Minister Paopoom Rojanasakul announced the decision following the weekly cabinet meeting.
The Government Savings Bank (GSB) will implement this scheme, providing individuals, independent business owners, salaried employees, merchants, and other service providers with loans of up to 50,000 baht.
The loans carry a fixed interest rate of 0.75% per month with a repayment term of up to five years.
Applications are open until December 30, 2025.
The GSB will not seek budget compensation from the government, opting instead to reduce its profit margin.
The Finance Ministry projects that the programme will benefit over 300,000 people.
Additionally, the cabinet approved a Government Housing Bank loan programme offering low-interest loans for home purchases and repairs, with an interest rate of 3% for the first five years.
Deputy Finance Minister Paopoom Rojanasakul announced the decision following the weekly cabinet meeting.
The Government Savings Bank (GSB) will implement this scheme, providing individuals, independent business owners, salaried employees, merchants, and other service providers with loans of up to 50,000 baht.
The loans carry a fixed interest rate of 0.75% per month with a repayment term of up to five years.
Applications are open until December 30, 2025.
The GSB will not seek budget compensation from the government, opting instead to reduce its profit margin.
The Finance Ministry projects that the programme will benefit over 300,000 people.
Additionally, the cabinet approved a Government Housing Bank loan programme offering low-interest loans for home purchases and repairs, with an interest rate of 3% for the first five years.
