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November 16, 2020 Mr. Arkom Termpittayaphaisit Minister of Finance and Mr. Hideaki Iwasaki, Director of the Representative Office of the Asian Development Bank. In Thailand Sign a loan contract COVID-19 Active Response and Spending Support Program. USD 1.5 billion
Looking at the Thai economy in the third quarter it started to recover from COVID-19?
The Cabinet agreed to borrow 48 billion baht from the Asian Development Bank. COVID remedy limit
This is in accordance with the Royal Decree that grants the Ministry of Finance the faculty to borrow money to solve problems, heal and rehabilitate the economy and society. Affected by the Asian Development Bank (ADB) coronavirus outbreak 2019 2020 (COVID-19).
ADB Bank has provided financial measures to help member states solve the economic and social problems affected by the 2019 coronavirus disease with a lenient loan condition that can: Support the budget of member country governments to implement policies and measures to solve problems, heal and restore the economy.
During fiscal year 2020, the Ministry of Finance has used a variety of fundraising tools, such as government bonds. promissory note Make a loan contract AND treasury bills From the national money market in order to raise funds for expenses in the implementation of work plans / projects under the COVID-19 Act, the 3 programs are
Plan 1 Work plan or project with medical and public health objectives To address the problem of the epidemic infected by the coronavirus 2019
Work plan 2 Work plans or projects designed to help, heal and compensate the public sector, farmers and entrepreneurs.
And work plan 3, work plans or projects aimed at restoring the economy and society
“The Ministry of Finance has the mission of administering and managing the country’s public debt. Borrowing funds in accordance with sufficient public spending needs and with reasonable costs and risks. Maintain the sustainability of the government’s fiscal financial status. Furthermore, it is consistent with the market condition (Market Base) and prevents competition for liquidity or financial resources (Crowding Out) with the private sector, which will affect the overall cost of borrowing in the country. “
The Treasury needed an additional loan of 2.14 billion to be sufficient to receive the disbursement at the end of fiscal year ’63.
Treasury increases recovery of 2.14 billion COVID-19 causes country without income Low inventory
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