SML programme approved

Deputy Prime Minister and Finance Minister Surapong Suebwonglee said after the Cabinet meeting on Tuesday that the loan to each village depends on the size of the village.

An amount of Bt15 billion of the programme would come from the previous government's "Yoo Dee Mee Suk" programme. The remaining comes from the central government budget. Surapong asserted that unlike Yoo Dee Mee Suk where villagers were eligible to the funds only with projects in hands and paved way for corruption, SML provides an equal access to all.

Meanwhile, he told reporters that the Finance Ministry decided to keep three more proposals involving Bank for Agriculture and Agricultural Cooperatives (BAAC), Government Housing Bank (GHB), and Government Savings Bank (GSB) for the Cabinet's next meeting.

BAAC plans to provide debt suspension to some farmers, while GHB plans to offer Bt10 billion of mortgage loans at a special rate, probably 4.5 per cent. GSB also plans to cut the rate for its People's Bank from 1 per cent a month to roughly 0.75 per cent.

-The Nation