PM is satisfied with efforts to address non-formal loans

BANGKOK, Dec 185 (TNA) -- Prime Minister is satisfied with progress made in efforts to solve the longstanding problem of non-formal loans in the country but advised that the push must be sustained. The government spokesman Lt Gen Sansern Kaewkamnerd said that Prime Minister Gen Prayut Chan-o-cha was happy with the success of non-formal debt rehabilitation programs following this year's registration for the government's welfare programs for the poor. The names of vetted applicants have already been sent to the Government Savings Bank and the Bank for Agriculture and Agricultural Cooperatives who will handle debt settlement. Both banks will then act as the moderator in debt settlement negotiations between debtors and their moneylenders. So far, they have successfully launched debt settlement in Nakhon Ratchasima, Suphan Buri and Songkhla provinces and have already approved a first run of small loans. In all total of 4,324 persons have been helped and 193.33 million baht in loans have been paid out. Furthermore, the spokesman revealed that both banks have also approved 50,000 Baht emergency loans for 180,898 people in November 2017 amounting to 1.831 billion Baht in total from a budget of 10 billion Baht approved by the cabinet in February of this year. Lt Gen Sansern went on to say that the Prime Minister had advised the Ministry of Finance to keep up a sustained effort and make certain that the general public are fully aware of the government's policies. They must be made to understand that the government was not paying off their debts but was helping them to solve their financial problem in an official capacity by giving advise, acting as the go-between in debt negotiations and providing a means for higher earnings. (TNA)