BANGKOK, 18 July 2012 – The Government Housing Bank (GH Bank) has revealed that it has received an additional 14 billion baht budget to be offered as soft loans to flood victims.
According to GH Bank President Worawit Chailimpamontri, the Bank of Thailand (BoT) has recently granted the GH Bank 14 billion baht as a new budget to help last year’s flood victims. He added the bank will propose to the Cabinet within this month for an approval to offer the money as soft loans, with a fixed interest rate of 3% for five years.
The offer is expected to be launched in August. Mr Worawit said with the bank’s budget of 6 billion baht, it will be able to offer altogether 20 billion baht to home buyers, many of whom have been heavily affected by last year’s devastating flood .
According to him, the first phase of soft loans worth entirely 9 billion baht has been booked up within the first three days, while a number of applicants are queuing up for loans, worth another 5 billion baht altogether.
The GH Bank President, meanwhile, has speculated that housing loan in the second half of this year will grow well as a result of the expanding economy.
