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November 16, 2020 Mr. Archom Termpittayapaisit Minister of Finance and Mr. Hideaki Iwasaki Director of the Representative Office of the Asian Development Bank In Thailand has signedCOVID-19 Loan Agreement Spending Support and Active Response Program USD 1,500 million in the Ministry of Finance With details as follows
This financial cooperation between the Ministry of Finance and the Asian Development Bank (ADB) is carried out by virtue of the Royal Decree that grants the authority.Ministry of FinanceBorrow money forSolve problems, heal and restore the economy and society. Affected by the 2019 2020 coronavirus outbreak (COVID-19 Law) The ADB has provided financial measures to help member countries solve, heal and rehabilitate socio-economic problems. Affected by the 2019 coronavirus outbreak With flexible loan terms This can be used to support the budget of member country governments to implement policies and measures to solve problems, heal and restore the economy.
In the last fiscal year, the Ministry of Finance has used various financing 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 three programs are Plan 1 Work plans or projects with medical and public health objectives To solve the problem of contagious coronavirus disease 2019, Work Plan 2 Programs or projects intended to help, heal and compensateFor the public sector, farmers and entrepreneurs and the 3rd Plan Work plans or projects aimed at restoring the economy and society The Ministry of Finance has the mission of managing 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. In addition, it is in line with market conditions and avoids competition for liquidity or financial resources (Crowding Out) with the private sector, which will affect the country’s overall cost of borrowing.
