Bank Loans Put Prisoners Back On Track

[george]

Bank loans put prisoners back on track

PATHUM THANI: -- Many banks might look askance at providing loans to prison inmates, but the SME Bank and the Government Savings Bank have launched the world’s first scheme to provide credit for prisoners in order to help them reintegrate into society.

The scheme, which represents a collaboration between the Department of Corrections, the Probation Department and the Ministry of Commerce, has already helped 10 prisoners, and hopes to have provided loans to 1,000 inmates by the end of the year.

The ‘Create Careers: Create Good People for Society’ scheme begins with skills experts, who go into prisons to offer training. Inmates then get additional marketing and financial management advice from officials from the SME Bank, who give suggestions on what employment paths offer quick returns.

The bank then prepares credit for inmates who are about to be released, and who are considered capable of building up viable careers. The loans, up to a ceiling of Bt50,000, are then provided by the Government Savings Bank.

“We now have around 170,000 prison inmates”, Justice Minister Suwat Liptapanlop told reporters. “This project will help transfer a burden into energy. If people who are a burden are able to get income for their own careers, they will not return to crime. Each year the government spends nearly Bt10 billion on caring for prison inmates. If we could reduce the prison population, it would allow the government to use more money for national development”.

The loans come with a three-month grace period, with the prisoners starting to make repayments in the fourth month at a monthly interest rate of 1 percent.

Prisoners who receive the loans will continue to be monitored by probation officers, partly in order to ensure against bad debt as a result of poor business operations. If the prisoners’ businesses run into difficulties, officials will be on hand to provide instant advice.

One 35 year-old prison inmate, who is about to be released from a 6-year sentence for drug abuse, told reporters that he was borrowing Bt20,000 to open a barber shop.

--TNA 2005-06-13

[dr_Pat_Pong]

That is hard to believe. The Thai government is not usually known for its amplitude to its lesser light people.

[chownah]

That is hard to believe. The Thai government is not usually known for its amplitude to its lesser light people.

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What the heck are 'lesser light people'?

[stumonster]

That is hard to believe. The Thai government is not usually known for its amplitude to its lesser light people.

except no matter how honorable the original intentions are - from the past track record everything seems to be co-opted by corrupt officials to enrich themselves - my guess would be the prison officials will only recommend loans to the people who will pay them kickbacks

soory for seeming pessimistic , I think I am just being realistic

[dr_Pat_Pong]

That is hard to believe. The Thai government is not usually known for its amplitude to its lesser light people.

<{POST_SNAPBACK}>

What the heck are 'lesser light people'?

<{POST_SNAPBACK}>

A semi PC description for low lives

[mnoorsapl]

Bank loans put prisoners back on track 

One 35 year-old prison inmate, who is about to be released from a 6-year sentence for drug abuse, told reporters that he was borrowing Bt20,000 to open a barber shop.

--TNA 2005-06-13

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Most likely he will use the $$$ to buy some more grass.

[dr_Pat_Pong]

just the trimmings