BANGKOK, 18 August 2015 – The government has increased the village fund to one million baht, in a bid to provide for sustainable growth of local communities.
The government has increased the state budget of the 79,000 village funds nationwide to one million baht each. Prime Minister General Prayut Chan-o-cha ordered swift implementation over 2-3 months.
Village funds are meant to boost local economy by providing financial education for locals, giving out loans, as well as encouraging spending discipline.
However, some village funds were judged to have not met the standards for additional funding due to management issues. The government will designate officials to provide management assistance to such funds.
