The debtor rejoices, and the State Savings Bank forgives the debt. More than 720 thousand people were relieved of their debts

The measures to assist debtors in the event of non-performing loans for the loan project to cover the expenses of self-employed workers affected by the Coronavirus (COVID-19) are in line with the Cabinet Decision of December 19, 2023. The assistance is provided only once to prevent loss of financial discipline.

Mr. Withai Rattanakorn, Director of the State Savings Bank, revealed that according to the Government by Mr. Sita Thavisin, Prime Minister, the State Savings Bank has been tasked with assisting debtors for the loan project to cover the expenses of self-employed workers affected by the Coronavirus (Covid-19). The affected groups remain severely affected. Unable to recover and pay its debts. Until it became a situation of bad debts, or NPLs, which the Council of Ministers decided to accelerate to help debtors in this group escape from the situation of non-performing loans, in order to prevent debtors from losing their credit history. The sources of funds in the system can also be accessed in the future and the bank will use the budget to compensate for the damages caused by the bad debts allocated by the government to the said loan project. Used to repay debts on behalf of debtors and which has been operating since the first quarter of 2024, the bank has recently taken additional measures on more than 90 thousand cases, making it possible to assist more than 720 thousand debtors during the 3-month period since the start of the measure expected to be in the fourth quarter. From 2024 he will be able to help debtors. An additional number of over 100,000 were added when additional budget allocations were received from the government.

By the way, the measures to assist debtors with non-performing loan status for the loan project to cover the expenses of self-employed people affected by COVID-19 are in accordance with the Cabinet Decision of December 19, 2023, and are assistance that is implemented only once. To prevent loss of fiscal discipline the government has a policy of pushing for the solution of debt problems for all categories of people to be successful and sustainable as a national agenda.