B15bn terms tweaked for industrial estates

Published: 31/01/2012 at 12:20 PM
Category: Government
Tag: industrial estates

Two-thirds of soft loans turned to grants

The Finance Ministry is looking to assist companies in the sevenindustrial estates inundated late last year by revising the terms of 15 billion baht in soft loans, with two-thirds of the money given away and the rest

Two-thirds of soft loans turned to grants The Finance Ministry is looking to assist companies in the seven industrial estates inundated late last year by revising the terms of 15 billion baht in soft loans, with two-thirds of the money given away and the rest offered at near-zero interest.

Bangkok Post

offered at near-zero interest.

State officials believe the generous package will help to reduce the financial burden of affected firms.

Somchai Sujjapongse, director-general of the Fiscal Policy Office (FPO), said term amendments include allocating two-thirds of the money as straight government grants, with the remaining third still to be soft loans carrying interest of 0.01% and a maximum 15-year repayment period.

The Government Savings Bank (GSB) will still provide the soft loans as planned.

The 15-billion-baht soft loan scheme was earlier developed by the Finance Ministry for the seven inundated industrial estate operators to build floodwalls…

Full story from Bangkok Post at http://goo.gl/8ZcDU

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