BANGKOK, 17th December 2017 (NNT) – The Prime Minister is satisfied with the progress on the government’s effort to solve the informal loan problem, set to come up with sustainable solutions to help the debt stricken people.

Prime Minister Gen Prayut Chan-o-cha has expressed his satisfaction to the campaigns to address and settle the problem of outside financial system among poor people. He said after the government had opened for people to register their informal debts, the list of in-debt people were forwarded to the Government Savings Bank and Bank for Agriculture and Agricultural Cooperatives for the settlement of the debts.

The negotiations with the creditors in Nakhon Ratchasima, Suphan Buri, and Songkhla provinces had been successful, enabling to clear a total of 193.33 million informal baht debts and to list them in the formal financial system.

The two state-owned banks have offered emergency loans to 180,898 clients as of November 2017, with the total amount of 1.83 billion baht. The loans have been approved for 169,356 normal clients, and 11,542 clients who are registered as low-income earners.

The Prime Minister has called on the Ministry of Finance to keep on solving this problem by making a good understanding among the general public that the government’s effort is just a refinancing scheme to help the debtors and that it is not a debt payment for free of charge.

The debtors must enter a sustainable debt settlement scheme, which includes the debt repayment negotiations and the increase in income of the debtors to enable them to make debt payment without any difficulty.