Thailand

Cabinet passes 4 executive decrees to rebuild Thailand

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BANGKOK, 10 January 2012 (NNT) – The cabinet has given the green light to four executive decrees concerning the acquisition of loans for investing in water management in order to rebuild confidence in Thailand after the flood crisis.

According to Secretary-General of the Council of State Atchaporn Charuchinda, the four draft decrees, which have been approved in the weekly cabinet meeting, pertain to the Bank of Thailand’s provision of 300,000 baht in soft loans for flood victims, the acquisition of a 350-billion-baht loan by the Ministry of Finance to reconstruct the country after the floods, the establishment of a 50-billion-baht insurance fund, and the management of the Financial Institutions Development Fund (FIDF)’s debt worth 1.14 trillion baht.

Mr. Atchaporn revealed that the Strategic Committee for Reconstruction and Future Development (SCRF) and the Strategic Committee for Water Resources Management (SCWRM) had earlier proposed that the government rush to rehabilitate the country from flood devastation, restore the confidence of both Thais and foreigners and devise a sustainable flood prevention system. Therefore, in order to promptly achieve these objectives, the cabinet agreed to give its endorsement to the four executive decrees.

News ID: 255501100012

Reporter : Narumon Ngamsaithong
News Date : 10 January 2012