EEC Office says aid schemes need to be revamped

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EEC Office says aid schemes need to be revamped

Upcoming measures to help targeted groups

The government may need to revise its financial assistance policies for low-income people, farmers, employees, self-employed, micro-enterprises and small and medium-sized enterprises, as many of them do not get still not the financial envelopes of the government and other forms of assistance, explains the head of the Office of the Eastern Economic Corridor (Office of the EEC).

According to Kanit Sangsubhan, Secretary General of the EEC Office, the previous and existing state measures are not yet effective enough and are not yet able to compensate low-income people, farmers, employees, workers self-employed, community businesses and SMEs. for losses of around 1.76 trillion baht in 2020 and 2021.

“Thailand’s economic recovery is uneven K-shaped. Currently, only large businesses and the export sector are recovering, while the majority of people, including low-income people, farmers, SMEs and micro-SMEs, are still struggling and far from being recovered,” Mr. Kanit said. “Around 60% of the population are thought to have exhausted their savings, with many relying on loan sharks.”

Mr Kanit cited a survey in the EEC provinces of Rayong, Chachoengsao and Chon Buri which found that low-income people are still suffering from the impact of Covid-19 and a poor economy, many of them them turning to loan sharks because they cannot access government. financial arrangements.

He said existing packages such as the co-pay system could only help them in the short term, suggesting that the government provide people with assistance packages that can help them in the longer term, such as vocational training programs and technical and technological support to increase their income, and better access to loans from financial institutions.

As part of efforts to alleviate hardship for low-income people and SMEs, the UNECE Office partnered late last year with financial institutions including the Government Savings Bank (GSB) , the Export-Import Bank of Thailand, Bank for Agriculture and Agricultural Cooperatives (BAAC), PME Bank, Krungthai Bank, Thai Credit Guarantee Corporation (TCG) as well as an insurance company – Diphaya Insurance .

These financial institutions will help provide loans, technical assistance such as technology upgrades, and training programs to low-income people, farmers, community businesses, and micro-SMEs.

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