Thai parliament approves 16-bln-USD loan decree for COVID-19 fight
The House of Representatives of Thailand on June 10 approved a decree allowing the government to borrow 500 billion THB (16 billion USD) for responding to the third infection wave of COVID-19.
Prime Minister Prayut Chan-o-cha defends the 500-billion-baht executive decree in Parliament on June 9 (Photo: VNA)
Bangkok (VNA) - The House of Representatives of Thailand on June 10 approveda decree allowing the government to borrow 500 billion THB (16 billion USD) forresponding to the third infection wave of COVID-19.
The decree allows the Finance Ministry to raise 500 billion THB, but loan contractsmust be signed by Sept 30, 2022, according to Finance Minister ArkhomTermpittayapaisith.
As planned, about 30 billion THB isearmarked to buy medical supplies, medicines and vaccines, and for research anddevelopment of vaccines.
Meanwhile, about 300 billion THB is allocated for funding relief schemes forpeople across various sectors. The rest will be forsocial and economic rehabilitation projects.
Termpittayapaisith said before thevote that the cash injection would help Thailand fulfill its target and the governmentwould keep pubic debt at less than 60 percent of the country’s gross domesticproduct.
This is the second time the Thai government has been allowed to borrow money todeal with the COVID-19 pandemic. Last year, it borrowed 1 trillion THB to easethe impact of the first wave of COVID-19.
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Prime Minister Prayut Chan-o-cha defends the 500-billion-baht executive decree in Parliament on June 9 (Photo: VNA) 
