Debt suspension approved for businesses affected by state decrees

[snoop1130]

 

BANGKOK (NNT) - To aid business operators hit by the COVID-19 pandemic, the government has suspended debt repayments for two months by businesses, and laborers who have had to cease work due to state edicts, while also promising to aid those still active.

 

The Center for the COVID-19 Situation Administration’s (CCSA) economics spokesperson Thanakorn Wangboonkongchana, reported today that the Ministry of Finance, Bank of Thailand, Bank Association of Thailand and the International Bank Association had collectively decided to suspend debt principle repayments and interest payments by SMEs for a period of two months. The aid applies to all businesses nationwide that have been forced to stop due to state measures against COVID-19 as well as their employees, with a particular focus on those in the 10 most restricted provinces. The help applies to payments in July and August 2021.

 

Debtors who have continued to operate their businesses but have been affected by restrictions will have their applications for aid considered on a case-by-case basis from July onward.

 

It has however, underlined that the measure is only a delay in payments, with those able to make payments urged to continue to do so to avoid a financial burden in the future.

 

So far, the government has approved aid of 500,000 baht to 3,000 tourism businesses, drawing on a budget of 1.218 billion baht. The restaurant credit scheme has provided 100,000 baht in loans to eateries, and the SME credit scheme has provided 3 million baht in loans to travel and other enterprises to shore up their liquidity.

 

-- © Copyright NNT 2021-07-16

 

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[Dont confuse me]

I sincerely hope they realise that the word, "Loan" is not part of the Thai language and I'm pretty sure in dictionaries it has been replaced with the word, "Gift"