What To Know
- The Ministry of Finance, the Bank of Thailand (BOT), and the Thai Bankers Association have jointly introduced a bold new programme titled “Clear Debt, Move Forward,” designed to help millions of small borrowers regain financial stability.
- By addressing household debt inclusively and proactively, the government is signaling a commitment to not just economic numbers but to rebuilding lives and national confidence — a step many hope will lay the foundation for a more equitable and resilient future.
Bangkok Business News: Major push to ease small debt burden nationwide
The Ministry of Finance, the Bank of Thailand (BOT), and the Thai Bankers Association have jointly introduced a bold new programme titled “Clear Debt, Move Forward,” designed to help millions of small borrowers regain financial stability. Targeting non-performing loans (NPLs) under 100,000 baht, the scheme seeks to assist more than 3.4 million Thais across 4.7 million accounts, collectively worth 120 billion baht.
A nationwide plan to help millions of Thais clear small debts and rebuild financial stability
Image Credit: Bank of Thailand (Facebook)
According to Finance Minister and Deputy Prime Minister Ekniti Nitithanprapas, the government views household debt not merely as a financial indicator but as a core social issue. He stressed that ignoring this challenge could hinder national recovery and entrench inequality. As stated in this Bangkok Business News report, the programme aims to restore hope and ensure long-term resilience for struggling citizens rather than provide temporary relief.
Part of the government’s Quick Big Win economic plan
The “Clear Debt, Move Forward” initiative forms the second pillar of the government’s Quick Big Win plan, a broader framework to generate immediate economic stimulus while securing sustainable results. This new scheme zeroes in on easing small-scale debt pressures, giving those in default the opportunity to restructure and restart without fear of further financial collapse.
Ekniti highlighted that the project reflects a humanitarian approach to economic management. “This is not only about cutting debt or deferring payments—it’s about saving lives and reviving confidence,” he said. He noted that the inability of citizens to settle even small debts often traps families in cycles of poverty, undermining both domestic consumption and national growth.
Funding redirected from previous government initiative
Interestingly, the plan will not depend on fresh budget allocations. Approximately 20 billion baht from the earlier “You Fight, We Help” programme will be reallocated to support this effort, ensuring that the rollout is swift and efficient. Officials are confident that this approach will provide much-needed breathing space to millions of Thai households, empowering them to participate more actively in the recovering economy.
The “Clear Debt, Move Forward” programme symbolizes Thailand’s growing recognition that financial health is deeply tied to social wellbeing. By addressing household debt inclusively and proactively, the government is signaling a commitment to not just economic numbers but to rebuilding lives and national confidence — a step many hope will lay the foundation for a more equitable and resilient future.
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