PDMO to quickly find banks willing to give loans to fund rice pledging scheme


BANGKOK, 21 May 2014,  -The Public Debt Management Office (PDMO) has said it is currently searching for financial institutions willing to give loans to fund the rice pledging program. 

Director of the Office, Jularat Suthethorn, said that the names of commercial banks interested in making loans to the Office would be made public at a later date, for fears of possible backlash from their customers and employees.

According to her, the loans would be divided into 2 parts, one to pay for the pending 100 billion baht owed to farmers who already pledged their stocks, and the other to pay for the scheme’s other debts, which is part of the program’s debt management that had been approved by the administration before it dissolved the Lower House.

The 100 billion baht worth of the older debts has already been paid, said the director, adding that the remaining debts of 20 billion baht will be paid as soon as the loan has been approved.