More than half of the teachers’ cooperatives nationwide have reduced the interest on debts owed by teachers who are facing increasing financial difficulties, according to the Cooperative Promotion Department (CPD).
About 900,000 teachers collectively owe at least 1.4 trillion baht. Of this amount, 890 billion baht, or 64% of the loans, is owed to the teachers’ cooperatives, followed by 349 trillion baht to the Government Savings Bank.
The cooperatives, which are overseen by the CPD, have been trying to alleviate the teachers’ debt problems, said Wisit Srisuwn, the CPD director-general.
The department has secured financial support and know-how to sustain the cooperatives, which form an important financial lifeline for many member teachers, Mr Wisit said.
The CPD has signed a…
