Government spokesman Thanakorn Wangboonkongchana said the cabinet on Tuesday approved a project to lend 5 billion baht to new self-employed people and small business operators. The Government Savings Bank will lend the sum, at no more than 300,000 baht per debtor.
The repayment period was set at 5 years and the interest rate at 3.99% per year.
The cabinet also allocated 1.5 billion baht as compensation for the non-performing loans that may result from the lending project. The compensation was equivalent to 30% of the 5-billion-baht lending project, Mr. Thanakorn said. (TNA)