Government to help 1.9 million small debtors and SMEs

Debtors of Commercial Banks or Non-Bank institutions can now apply for help from the government to reduce their repayment burden under the “you fight, we help” program, created jointly by the Thai Finance Ministry and commercial banks, both private and state-owned.

The program is the result of collaboration between the Finance Ministry, the Bank of Thailand, the National Economic and Social Development Council, the Thai Bankers Association, the International Bankers Association, the Government Financial Institutions Association and others.

According to the Finance Ministry, the program is targeting 1.9 million small debtors and enterprises, with combined total indebtedness amounting to about 890 billion baht. The program is expected to reduce Thailand’s household debt by about 10%.