Thailand : Pump priming

[Mid]

Govt injects village funds totaling Bt900 million to boost economy, create jobs

BANGKOK, July 23 (TNA) -- Thailand's populist economics-oriented government on Wednesday injected a second round of so-called village funds totalling Bt900 million for 900 villages throughout the kingdom in an attempt to create jobs and to jump-start the stagnant economies of the rural poor.

Finance and Deputy Prime Minister Surapong Suebwonglee told a workshop attended by representatives of communities, banks and government agencies that the funds were dispersed to 900 villages out of 1,600 eligible villages. More funds would be later handed out to the remaining villages.

Wednesday's injection of village funds was the second time the current government had given to villages since it has come into power on February 6 this year.

On April 9, it distributed funds totalling about Bt1.385 billion to 5,800 villages nationwide, aimed at stimulating the economy through its small-, medium-, and large-scale (SML) enterprise fund project.

The village fund project was first initiated by the former government of ousted prime minister Thaksin Shinawatra. Since 2001, the government has already injected funds totalling Bt78 billion and had created some Bt 700 billion cash in circulation.

Between 94-96 per cent of the villages settled the debts punctually, while the remainder was written off as bad debts. (TNA)

enews.mcot.net

[Texpat]

Between 94-96 per cent of the villages settled the debts punctually, while the remainder was written off as bad debts.

And those 4-6 percent of villages still can't stop talking about how they got one over ...

It's a sign of craftiness and guile to get something for nothing here. I would imagine they're very proud.