Bangkok: The government is set to provide a second round of compensation for damages to homes, property, orchards, and farms.

According to Thai News Agency, the Government Housing Bank (GHB) is also offering emergency loans with a 1% interest rate for repairing homes damaged due to border incidents.

Ms. Sasikarn Wattanachan, Deputy Government Spokesperson, disclosed that the Cabinet meeting this week approved compensation funds amounting to 10 million baht for each deceased and 8 million baht for the injured. Relevant agencies have been directed to expedite assistance processes for damaged properties, with further discussions planned for the next Cabinet meeting.

The GHB has been instructed to align with the Ministry of Finance’s policies by providing loans to those impacted by the border situation. These loans, available to both existing and new customers, aim to facilitate home repairs. Applications are now open at all GHB branches nationwide.

Existing GHB customers can avail home repair loans under specific programs with a maximum limit of 300,000 baht per person. The initial 100,000 baht is offered at a 1% interest rate for three years, while the remaining amount has a slightly higher rate. There is no need for additional mortgage registration at the Land Office.

New customers can apply for loans up to 2 million baht per person, with a 40-year term. The initial interest rate is 0% for the first three months, increasing gradually thereafter. Benefits include free collateral appraisal and capped mortgage registration fees.

Applications are open starting today. Interested individuals can contact any GHB branch or reach out via the GH Bank Call Center or their Facebook Fanpage for further details.

Ms. Sasikarn emphasized the government’s dedication to ensuring stable recovery from the border incidents, aiming to provide citizens with reassurance and peace of mind.