October 1, 2008
Bangkok - Thai workers who are going to work overseas will get the loan support from the labour ministry.
Labor Minister Uraiwan Thienthong said the loan scheme was to help workers who had no collateral for loans.
Labor ministry will coordinate with Bank for Agriculture and Agricultural Cooperatives (BAAC) to consider giving loans to the workers.
The scheme was expected to increase the opportunity for poor job seekers to work overseas more.
The ministry targeted to give help to about 6,000 job seekers per year in this loan giving scheme.
More loans will be given to job seeks if the scheme is successful and in high demand.
The maximum loan amount is 150,000 baht per person.
Loan borrowers need to be BAAC’s customers or customers’ family members. They have to be reliable.
They also need to have at least two guarantors who are full-time employees.
The loan interest is 10.5% per year. Loan will be paid back in installments and deducted from salary at the rate of 3%.
