Budget Office Approves Land Bank to Use Funds for Sustainable Land Management

Matichon•Society•265d ago

Reader Briefing

The Budget Office has greenlit the Land Bank's use of accumulated funds for its Sustainable Land Management Project in fiscal year 2025, aimed at land acquisition and development for impoverished farmers.

•The Budget Office approved the Land Bank's request to use accumulated funds for the Sustainable Land Management Project.
•This initiative, for fiscal year 2025, focuses on acquiring and developing land for impoverished farmers.
•The Land Bank received a budget of 470,410,000 THB for sustainable land management, which it has fully disbursed.
•The approval requires the Land Bank to ensure expenditure aligns with the allocated budget's objectives and adhere to relevant regulations.

Overview

•On Jan 30, the Director of the Budget Office responded to a query from the Land Bank regarding the use of accumulated funds.
•The Budget Office stated that the funds allocated for the 'Sustainable Land Management' project are income for the institution and must be spent to achieve the project's objectives.
•The 'Sustainable Land Management' project for fiscal year 2025 has a budget of 470,410,000 THB, which has been fully disbursed.
•The Land Bank's board had previously resolved on Dec 17, 2025, to use 68,827,342 THB in accumulated funds for the project.
•The project aims to provide loans to community enterprises for land acquisition and development for impoverished farmers.
•The Budget Office's approval allows the Land Bank to use its accumulated funds, provided the expenditure aligns with the project's stated objectives.
•The Land Bank is authorized by the Budget Office to proceed with using accumulated funds for the 'Sustainable Land Management' project.
•The Land Bank must ensure all expenditures are in accordance with its regulations, ministerial decrees, and cabinet resolutions.

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Key Entities

Organization

Budget Office(สำนักงบประมาณ)

The Thai government agency responsible for reviewing and approving budget allocations, which has approved the use of accumulated funds for the Land Bank's project.

Land Bank(ธนาคารที่ดิน)

A public organization (องค์การมหาชน) focused on land management and development, seeking to utilize accumulated funds for its 'Sustainable Land Management Project'.

Institute for Land Bank Management (Public Organization)(สถาบันบริหารจัดการธนาคารที่ดิน (องค์การมหาชน))

The formal name for the Land Bank, a public organization in Thailand.

Person

Mr. Apichat Rattanaratcharassri(นายอภิชาติ รัตนราศรี)

Deputy Director of the Budget Office, acting on behalf of the Director, who issued the official response regarding the Land Bank's fund usage.

Law

Budget Expenditure Act B.E. 2568(พ.ร.บ.งบประมาณรายจ่ายประจำปีงบประมาณ พ.ศ. 2568)

The specific law governing budget expenditures for the fiscal year 2025 in Thailand, under which the funds were allocated to the Land Bank.

Royal Decree Establishing the Institute for Land Bank Management (Public Organization) B.E. 2554(พ.ร.ฎ.จัดตั้งสถาบันบริหารจัดการธนาคารที่ดิน (องค์การมหาชน) พ.ศ. 2554)

The foundational law that established the Land Bank as a public organization in Thailand.