On November 12, Deputy Finance Minister Paophum Rojanasakul announced two new loan initiatives approved by the Thai Cabinet aimed at providing accessible financing for employment creation and housing. These projects, managed by Government Savings Bank (GSB) and the Government Housing Bank (GHB), are designed to reduce reliance on informal loans and support home ownership and repairs.

1. Employment Creation Loan Program - Managed by GSB, this program allocates a budget of 15 billion baht, offering individual loans of up to 50,000 baht at an interest rate of 0.75% per month for a maximum term of five years. Available starting December 30, this program is expected to assist approximately 300,000 people in transitioning away from high-interest informal loans.

2. Housing Loan Programs - Managed by GHB, these programs focus on home purchasing, construction, and repairs as extensions of the previously successful "Happy Home, Happy Life" loans.

  • Home Purchase and Construction Loans provide funding up to 50 billion baht, with individual loans capped at 3 million baht at a 3% interest rate.
  • Home Repair Loans offer up to 5 billion baht, with individual repair loans capped at 100,000 baht at a 1% interest rate.

These measures demonstrate the government’s ongoing commitment to supporting employment and the real estate sector, addressing both immediate financial needs and long-term property investment.