Bangkok: "Suksomruay" responds to Anutin's policy by accelerating the "Thai Helps Thai: Capital Increase, Half-Interest Loan" project, inviting village funds nationwide to join the program to reduce living costs and boost the liquidity of the grassroots economy.
According to Thai News Agency, Ms. Sukhsomruay Wantaniyakul, Minister attached to the Prime Minister's Office and Chairperson of the National Village and Urban Community Fund (NVUCF), discussed the approach to driving the "Thai Helps Thai" project, increasing capital and co-payment for loans, following yesterday's opening ceremony presided over by Prime Minister Anutin Charnvirakul. She expressed confidence that the project will boost the grassroots economy, reduce the cost of living for the public, and provide additional capital to over 79,610 village and urban community funds nationwide. She stated that this is a crucial project to assist members of the village funds, especially during difficult economic times when people need increased income. The project leverages the NVUCF to create liquidity in production and business activities, thereby increasing income and benefiting fund members in the long term.
Ms. Suksomruay stated that the government's allocation of 4,452,000,000 baht to village funds to reduce interest rates on loans for fund members, with a reduction of at least half for Account 1 loans starting in the current fiscal year, will allow members to receive lower interest rates. This directly reduces the interest burden on the people, aligning with the Prime Minister's policy of reducing expenses for the public. The project will invite interested village funds to expedite the process of applying for funding. Participating funds must meet specific criteria, including being a registered legal entity with a board of directors as per regulations, submitting financial statements continuously for at least two years, and holding a members' meeting to approve a 50% reduction in the interest rate on Account 1 loans for the current fiscal year, along with revising the contracts and preparing clear supporting documents.
Ms. Suksomruay further stated that if any village fund that has received additional capital does not implement the interest rate reduction according to the terms and conditions, the National Village and Urban Community Fund Office (NVUCO) has the authority to immediately reclaim the additional capital. This project is designed to inject government-allocated funds into the economic system. Village funds interested in participating can contact the National Village and Urban Community Fund Office (NVUCO) at any of its 14 regional branches nationwide to jointly strengthen the grassroots economy.