Bangkok: Anutin Charnvirakul has unveiled the "Thai Helps Thai" initiative, introducing a 50/50 interest rate scheme aimed at increasing capital and breaking the cycle of informal lending. The initiative emphasizes the Village Fund as a means to provide capital for businesses, distribute funds to the grassroots, and empower citizens to drive a robust Thai economy.
According to Thai News Agency, Anutin, who serves as both the Prime Minister and Minister of Interior, presided over the commencement of a workshop designed to raise awareness about revolving fund sources for vocational development under the "Thai Helps Thai" project. This project seeks to boost capital and distribute interest rates evenly across village and urban community funds.
Anutin clarified that "Thai Helps Thai" goes beyond price reduction measures or the "Thai Helps Thai Plus" project. The government's efforts are focused on reducing the cost of living, creating new opportunities for income generation, providing business capital, and increasing grassroots-level income.
Tackling economic challenges and revitalizing the grassroots economy are high priorities for the government. The initiative aims to reduce expenses, resolve debt issues, and ensure access to fair and affordable formal financial resources, thereby preventing dependence on high-interest informal loans that can destabilize families.
Anutin mentioned that the Village Fund Office is executing the project with a budget of 4,452 million baht, allocated to 79,610 village funds, urban community funds, and military community funds nationwide. This aims to enhance liquidity, offering working capital for business ventures.
The Prime Minister emphasized that the project extends beyond financial support, aiming to foster sustainable self-reliance. The funds will enable people to start businesses, breaking free from the cycle of informal debt and high interest rates, and avoiding the risk of losing their collateral, land, or homes.
Anutin highlighted that while village funds may begin modestly, disciplined and strategic use can lead to significant opportunities, generating real income and improving quality of life. However, funds must be used for business purposes, not for settling general debts or loan installments, to achieve the project's objective and create new household income.
Should the project succeed in generating income, distributing funds, and boosting purchasing power, the government is prepared to enhance opportunities, increase the budget, and expand coverage, ensuring the Village Fund becomes a sustainable mechanism for grassroots economic growth.
Anutin stressed that citizens should not be seen merely as recipients of government aid. A thriving grassroots economy, utilizing capital effectively to create jobs, income, and market expansion, positions people as vital supporters of the Thai economy.
The Prime Minister underscored the Village Fund's importance as an economic engine, representing the largest demographic in the country. When communities have access to capital, production, and trade of raw materials, money circulates within a network that fosters both economic growth and communal bonds.
Anutin concluded that stable jobs, sustainable incomes, and active livelihoods lead to improved quality of life, societal peace, and reduced conflict. The government calls for cooperation to ensure this project strengthens the economy, society, and nation from the grassroots level.