Anutin reveals new low-interest loan facility for informal borrowers with a good credit rating

[webfact]

Deputy Prime Minister and Ministry of the Interior Anutin Charnvirakul. The Bhumjaithai Party leader chairs the government committee pursuing a solution to the country’s chronic household debt problems. This week, he announced a new loan facility for borrowers with good credit ratings.

Thai government to the rescue: Deputy PM Anutin announces low-interest loans up to ฿50,000 for good credit borrowers outside the formal system. It comes amid rising concern for the safety of lenders as a top committee aims to curb informal debt, offering relief and legal protection to all parties.

Amid increasing anxiety about the extent of informal debt in the kingdom as creditor numbers seeking help, rise inexorably, Minister of the Interior and Deputy Prime Minister Anutin Charnvirakul this week announced a new low-interest loan facility with amounts up to ฿50,000 made available to borrowers with good credit at a competitive interest rate of 0.75% per month. It comes with rising concern for the protection of lenders. The government, following reports of violence and intimidation, committed itself to afford protection to both sides of the country’s chronic household debt problem.

 

Significantly, in a move to address the longstanding issue of informal debt, Deputy Prime Minister and Minister of Interior, Anutin Charnvirakul, unveiled a comprehensive plan aimed at aiding borrowers outside the formal credit system.

 

by Carla Boonkong & Pranee O' Connor

 

Full story: Thai Examiner.com 2023-12-22

 

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[Pouatchee]

Hmmm

Trying to understand this -- why be an informal borrower if you have a good credig rating?

Pie in the sky. No one will be eligible, but will seem like gvt is doing good work.

Edited December 22, 2023 by Pouatchee

[Purdey]

Hmm, lower household debt by offering more debt? But cheaper than loan sharks, who can be paid off by using these government loans. 

[jonclark]

Taxpayers money used to payoff illegal loans. Sounds like a winner for the loan sharks.

[Gottfrid]

He do not seem to understand, that these people go to loan sharks simply out of the reason their credit is maxed or do not have a good credit position for a loan in a bank. He´s is truly far behind in the art of comprehension.

[fondue zoo]

2 hours ago, webfact said:

for borrowers with good credit ratings.

 

But if they had to go the "informal" route in the first place might that not indicate that most probably don't have good credit?

 

These announcements are surely not being translated accurately, everything so far mentioned is nonsense.

Edited December 22, 2023 by fondue zoo

[hotchilli]

2 hours ago, webfact said:

Thai government to the rescue: Deputy PM Anutin announces low-interest loans up to ฿50,000 for good credit borrowers outside the formal system

I'm trying to help really... the man sitting on millions with no idea.

[digger70]

Anutin reveals new low-interest loan facility for informal borrowers with a good credit rating.

 

   55555. Thai Logic at it's Best.  People who borrow from Sharks ain't got a credit rating.

He's not the smartest sheep in the paddock. (they're all dumb )