The Thailand deal for a long-term multi-billion baht loan with Japan was formally announced today. Last month the government made the announcement to approach Japan for the loan. On May 3, the Thai Finance Minister, Akom Termpittayapaisit, explained to Thai media that he signed the agreement on Covid-19 Crisis Response Emergency Support Loan with a representative from JICA Morota Takahiro.
The Royal Gazette today announced Thailand will borrow an “emergency support loan” of 13 billion baht from Japan.
The loan, approved by the Cabinet on April 26, is needed to help ease the country back on its feet after the economic downturn caused by the Covid-19 pandemic.
The government and Japan International Cooperation Agency negotiated the 15 year loan at an interest rate of 0.01% per year. The loan repayments, scheduled for May 20 and November 20 of every year, will be exempted for the…
