Bangkok: Four state-owned banks are offering special interest loans to support Thais in switching to clean energy, reducing the burden of fuel and electricity costs. Ms. Ratchada Thanadirek, spokesperson for the Prime Minister's Office, revealed that the government is accelerating efforts to turn "crisis" into "opportunity" by improving energy efficiency while simultaneously strengthening long-term security and sustainability, amidst rising oil prices and the prospect of increasing electricity costs.
According to Thai News Agency, systematic support measures have been implemented through special-interest loans from state-owned specialized financial institutions (SFIs) to encourage individuals and businesses to transition to clean energy and energy-efficient technologies, reduce costs, and enhance competitiveness. Four SFIs have jointly offered loans covering households, farmers, and SMEs to alleviate energy expenses and drive the country towards a green economy.
The Government Housing Bank (GHB) has launched three "Happy and Comfortable Home" packages for purchasing, building, or renovating energy-efficient homes with renewable energy installations, at interest rates starting at 2.20% per year. This also includes the GHB's Energy Efficiency Loan (Number 5) with a fixed interest rate of 2.69% for the first two years, and a solar roof loan with a maximum loan amount of 300,000 baht and a fixed interest rate of 3.90% for the first three years, without requiring additional mortgage registration.
The Bank for Agriculture and Agricultural Cooperatives (BAAC) supports farmers in adopting the BCG Model through machinery loans with repayment terms up to 10 years, and BCG loans with flexible terms and repayment terms up to 15 years, along with working capital for 12-18 months.
SME D Bank supports entrepreneurs in adapting to green businesses through the SME Green Productivity loan, with a maximum loan amount of 30 million baht, an interest rate of 3%, a repayment period of 10 years, and a 12-month grace period for principal repayment.
"The credit measures from all four state-owned banks will help reduce the burden during periods of volatile energy prices, enhance energy security, and drive the Thai economy towards sustainability," the government spokesperson said.