BANGKOK (NNT) – The Cabinet has approved the Finance Ministry’s proposal to borrow another 700 billion baht to tackle the impacts of COVID-19, in addition to the previous 1 trillion baht loan.
The Finance Ministry said it is necessary to seek an extra loan as there are currently only 180 billion baht left from the previous loan. From the amount, 150 billion has already been allocated to be dispersed to the public through various upcoming schemes, while the remaining 30 billion baht will be assigned to the Ministry of Public Health to facilitate treatment and distribution of vaccines.
According to the Ministry, 500 billion baht of the new borrowing will be utilized to fund the government’s projects in tackling COVID-19, while the remaining 200 billion will be used to offset below-target revenue collection during the fiscal year 2021-2022.
