Bangkok: The Cabinet is preparing to consider borrowing 400 billion baht to inject into the "Thai Helps Thai Plus" program this Tuesday. Ratchada Thanadirek, spokesperson for the Prime Minister's Office, revealed that the Cabinet is preparing to consider a 400 billion baht loan framework this week, injecting funds into the "Thai Help Thai Plus" program while simultaneously supporting renewable energy plans.
According to Thai News Agency, Ms. Ratchada commented on the "Thai Help Thai Plus" (Half-Half) project, which will be presented to the Cabinet this week. She stated that measures to support the public, including the "Thai Help Thai Plus" project, the State Welfare Card, and other upcoming initiatives, will first involve budget allocation. This Cabinet meeting will focus on considering the borrowing framework. Projects seeking funding will be gradually submitted for Cabinet consideration. She emphasized the need for swift consideration to ensure funds reach the public by June. Regarding the Emergency Decree on borrowing, she clarified that while there have been discussions about borrowing approximately 500 billion baht, the current budget of 400 billion baht is sufficient.
Ms. Ratchada stated that the government has two main principles for using the funds from the Emergency Decree on Borrowing: firstly, the "Half-Half" project, a medium- and long-term national development initiative aimed at supporting citizens with their cost of living, where the government pays 60% and citizens pay 40%, along with the state welfare card; and secondly, the loan will be used to promote the country's transition from fossil fuels (imported oil) to clean energy and solar power. Therefore, this energy transition requires incentive measures, such as promoting electric vehicles (EVs) and motorcycles, and encouraging the installation of solar panels. Incentives are needed, including loan terms, interest rates, and infrastructure development to prepare for the increased use of EVs. This requires a significant budget, hence the government's recognition of the necessity of borrowing. However, all actions will be conducted transparently and with accountability.