BANGKOK, 8 January 2019 (NNT) - The Government Housing Bank (GHB) has set aside a budget of 1 billion baht to mitigate the impact of Tropical Storm Pabuk.


Managing Director of the GHB Chatchai Sirilai said the bank will be paying 20,000 baht in compensation to the owners of homes that were damaged by the storm. The compensation scheme is part of the 1-billion-baht budget that was announced on January 4th.


Chatchai confirmed that all houses insured with the bank will be compensated, adding that the bank will pay a fast-tracked 15,000 baht in compensation to customers with insurance covering damage caused to their homes by natural disasters. Should the amount of damage exceeds 15,000 baht, home owners can file for a maximum of 20,000 bat.


Insurance claims can be submitted at all branches of the GHB from January 7th onwards.


Also, the bank is waiving interest for four instalments or four months for home owners affected by the storm as well as offering an additional low-interest loan of one million baht to existing customers. Additional loans can be sought until December 30th, 2019.


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