Kittiratt: GSB can lend to mega projects

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BANGKOK, 1 April 2013  Deputy Prime Minister and Minister of Finance Kittiratt Na-Ranong has expressed confidence that the Government Savings Bank (GSB) has sufficient potential to lend to the government’s infrastructure mega projects. 

After presiding over the GSB’s 100th anniversary event on Monday, Mr Kittiratt said the bank would continue its “People’s Bank” project to provide micro loans since people in many areas still lacked access to capital sources. The deputy PM confirmed that the GSB had a capital reserve of as high as 100 billion baht and it would be able to give loans to the mega projects.

The bill to authorize the Ministry of Finance to borrow two trillion baht is now being considered by a committee who will finish the task within 30 days.

Permanent Secretary for Finance Areephong Phucha-um said three readings of the two-trillion-baht loan bill would be concluded by August this year. 30-40 billion baht from the loan was expected to be disbursed within 2013 and another 100 billion baht in 2014, Mr Areephong said.