Thai Government Holds ‘Grass-Roots Economy Boosting’ Fair

BANGKOK, Sept 20 (TNA) – Thai Prime Minister General Prayut Chan-ocha early Sunday presided over a fair aimed at boosting grass-roots economy through a cooperation of the people, business sector and the government after the junta administration has earlier given the green light to stimulate the national economy by injecting 136 billion baht. The fair is jointly organised by Deputy Prime Minister Somkid Jatusripitak who is responsible for national economic affairs and Issara Wongkusolkit, chairman of Board of Trade of Thailand at Muang Thong Thani on the outskirt of Bangkok. More than 5,000 community leaders and people attended the fair. The government has earlier decided to inject 136 billion baht to kick start Thailand’s economy which has been sluggish due to declining export and poor domestic consumption. Out of the total money, the government would provide loans amounting 59 billion baht through the state-run Government Savings Bank and the Bank for Agriculture and Agricultural Cooperatives to the Village Fund at the interest free for two years on the condition that borrowers must spend borrowing money on generating revenue and cannot repay for old debts. The government will allocate money totaling 35 billion baht to 7,000 tambons (villages) throughout the country. Each tambon is entitled to receive 5 million baht and the money will be spent on creating employment in the village. Thirdly, the money will be allocated to government agencies which propose small projects requiring an investment of not exceeding 1 million baht for each project. Total investment for this programme is 16 billion baht. (TNA)