GSB launches "Street Food Loans" to upgrade street food vendors

 

BANGKOK, 22 September 2017 (NNT) - The Government Savings Bank (GSB) is organizing Thailand Street Food By GSB in Soi Ari Samphan, with "Street Food Loans" catered toward hawkers and restaurant owners. 

GSB Director Chatchai Phayuhanaweechai discloses that the GSB has organized a Memorandum of Understanding signing ceremony with five partner organizations namely the Bangkok Metropolitan Administration, Department of Health, Industrial Development Foundation, National Food Institute, and Suan Sunandha Rajabhat University under the Thailand Street Food By GSB project. 

The event is held in Soi Ari Samphan from September 21 to 30, intending to upgrade street food vendors and develop the potential of small-scale entrepreneurs. 

The GSB has also prepared "Street Food Loans" worth 10 billion baht, with a monthly interest rate capped between 0.4-0.6 percent. 

The program targets hawkers and restaurant owners who will be granted 200,000 – 250,000 baht and 3 million baht, respectively.

 

-- nnt 2017-09-22

For that kind of money, I could get a whole bunch of chicken skewers and a new motorcycle.

"The GSB has also prepared "Street Food Loans" worth 10 billion baht  . . . "

 

A few months ago they were talking about banning street food altogether.

Now they're promoting it with billions of Baht.

I'm lost . . . . 

27 minutes ago, CelticBhoy said:

'm lost . . . . 

So's Thailand.

..i am so so tired of bbq smoke...it starts at 7 am..and when he goes home at 7pm..another man rolls up with his bbq.....so bad we cant hang out laundry on our balcony anymore...

I guess the street vendors will be putting their food cart, their livelihood up as collateral? Does anyone believe they will use their windfall loan wisely? I don't see this ending well.

My favorite roadside nosh vendors do not need any help.  They just need to be left alone.  Perhaps if the government spurred mobile automatic dishwashers for these poor people to elevate their work load and increase cleanliness, that would be a pittance well spent.

This is economic illiteracy. There isn't some limited fixed number of food vendors. 

 

Start giving free money from the magic money-tree to food vendors and the government will very quickly discover that there are 100x more food vendors who need restaurant loans.

 

If all you need to do is open up shop, and the free money comes pouring in -- who wouldn't do that?

 

And if they start restricting who is eligible for the free money, then what problem has been solved exactly?

 

... And when loans don't get paid back? The would-be restauranteurs do what? ... Open up a food cart!

Edited September 22, 20178 yr by Senechal

This sounds like a bankers scheme to pocket money. Lend money to folks who don't have assets, can shut down, relocate or disappear in 5 minutes. More mysterious non performing loans.

5 hours ago, webfact said:

The program targets hawkers

They will get running water so they can wash their hands once in a while 

I love food vendors in Bangkok. Most of them amazing, lovely people.

 

But I don't think giving them loans is help, quite the opposite.

38 minutes ago, JohnLick said:

I love food vendors in Bangkok. Most of them amazing, lovely people.

 

But I don't think giving them loans is help, quite the opposite.

I agree with you there, all it will do is put the vendor,s in debt and that will

put added pressure on them.