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Cabinet Approves EV Loans, Poor Card Top-ups to Ease Oil Price Crisis

Cabinet Approves EV Loans, Poor Card Top-ups to Ease Oil Price Crisis

Prachachat•Politics•2d ago

Reader Briefing

Thailand's Cabinet launches a multi-pronged support package to mitigate the impact of rising oil prices, including soft loans for EVs and solar, enhanced welfare for the poor, and aid for the transportation sector.

  • •The Thai Cabinet has approved a package of relief measures addressing the impacts of the Middle East situation and high oil prices.
  • •Key initiatives include soft loans for electric vehicle (EV) purchases and solar panel installations, increased financial aid for low-income individuals via the "Poor Card", and support for the transportation sector.
  • •The measures aim to alleviate cost of living burdens, encourage a shift to clean energy, and provide liquidity to businesses and farmers.

Overview

  • •The Thai Cabinet is implementing measures to counter the economic impacts of the Middle East conflict and rising global oil prices.
  • •The Cabinet has approved a package of relief measures aimed at alleviating burdens on vulnerable groups, the transportation sector, and farmers, due to high uncertainty.
  • •The Thai government will increase the "Poor Card" welfare benefit from 300 to 400 baht for one month, from April 13, 2026, to May 12, 2026, benefiting 13.22 million people.
  • •GSB will provide low-interest loans of up to 2 million baht per person for energy sustainability initiatives, such as EV purchases and solar installations, with loans available until March 31, 2027.
  • •GSB will offer soft loans at 0.01% interest to banks and non-banks for on-lending to consumers for energy transition purposes.
  • •Government Savings Bank (GSB) is launching the "GSB Turnaround Thai Business" credit line with a budget of 100 billion baht to help entrepreneurs adapt to environmental and digital transitions.
  • •The Agricultural Bank (BAAC) will implement a "Half-Price Interest" loan project with a budget of 30 billion baht to help farmers reduce production costs, available for 3 years.
  • •The Ministry of Finance, in collaboration with GH Bank, is offering special interest rates on various home loans with benefits for energy savings, available until April 30, 2026, December 30, 2026, respectively.

Full article content is available on the original source.

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Source: Prachachat (Original)

Key Quotes

เอกนิติ นิติทัณฑ์ประภาศ
"The Cabinet has resolved to approve measures to alleviate the cost of living burden for vulnerable groups, the transportation sector, and farmers amidst highly uncertain situations."
ครม. มีมติเห็นชอบมาตรการ บรรเทาภาระค่าครองชีพของประชาชนกลุ่มเปราะบาง ภาคขนส่ง และเกษตรกร ท่ามกลางสถานการณ์ที่ยังมีความไม่แน่นอนสูง
เอกนิติ นิติทัณฑ์ประภาศ
"Measures to support the public and entrepreneurs in adapting to increased use of clean energy as a substitute for oil."
มาตรการสนับสนุนให้ประชาชนและผู้ประกอบการปรับตัว หันมาใช้พลังงานสะอาดทดแทนน้ำมันให้มากขึ้น

Key Entities

Organization

Cabinet(ครม.)ℹ️
The executive body of the Thai government responsible for approving policies and measures.
Government Savings Bank (GSB)(ธนาคารออมสิน)ℹ️
A state-owned Thai bank providing various loan programs, including those for energy sustainability and SME support.
Government Housing Bank (GHB)(ธนาคารอาคารสงเคราะห์)ℹ️
A Thai state-owned bank offering specialized home loan products, including those focused on energy efficiency.
Electricity Generating Authority of Thailand (EGAT)(การไฟฟ้าฝ่ายผลิตแห่งประเทศไทย)ℹ️
The state enterprise responsible for electricity generation in Thailand, which certifies energy-efficient homes ("House No. 5").
Bank for Agriculture and Agricultural Cooperatives (BAAC)(ธนาคารเพื่อการเกษตรและสหกรณ์การเกษตร)ℹ️
A Thai state-owned bank providing financial services and support to farmers and agricultural cooperatives.
Comptroller General's Department(กรมบัญชีกลาง)
A Thai government agency responsible for public finance management, including procurement and contract regulations.
Bureau of the Budget(สำนักงบประมาณ)
A Thai government agency responsible for budget allocation and oversight for public agencies.
Ministry of Finance(กระทรวงการคลัง)ℹ️
The Thai ministry responsible for fiscal policy, government revenue, and financial institutions.
Small and Medium Enterprise Development Bank of Thailand (SME D Bank)(ธนาคารพัฒนาวิสาหกิจขนาดกลางและขนาดย่อมแห่งประเทศไทย)
A Thai state-owned bank dedicated to providing financial and business development support to small and medium-sized enterprises.
Export-Import Bank of Thailand (EXIM Bank)(ธนาคารเพื่อการส่งออกและนำเข้าแห่งประเทศไทย)ℹ️
A Thai state-owned bank providing financial services to support Thai exporters and importers.

Person

Aekniti Nitithanprapas(เอกนิติ นิติทัณฑ์ประภาศ)
Deputy Prime Minister and Minister of Finance who announced the Cabinet's relief measures.
Supachai Suthumphan(นางศุภจี สุธรรมพันธุ์)
Deputy Prime Minister and Minister of Commerce who was present at the announcement of the relief measures.
Siripong Angkasakulkiat(นายสิริพงษ์ อังคสกุลเกียรติ)
Deputy Minister of Transport who was present at the announcement of the relief measures.

Policy

State Welfare Card(บัตรสวัสดิการแห่งรัฐ)
A government welfare program providing financial assistance to low-income individuals in Thailand.
Electric Vehicle (EV)(รถยนต์และรถจักรยานยนต์ EV)ℹ️
A policy encouraging the adoption of electric vehicles through subsidized loans and other incentives.
GSB Low-Interest Loan Project for Public Energy Sustainability Adaptation(โครงการสินเชื่อดอกเบี้ยต่ำ GSB สำหรับการปรับตัวเพื่อความยั่งยืนทางพลังงานสำหรับประชาชน)
A low-interest loan program offered by GSB to individuals for energy-related adaptations like solar panel installation and EV purchases.
Baan Yoo Yen Pen Suk Home Loan(สินเชื่อบ้านอยู่เย็นเป็นสุข)
A home loan product from GH Bank aimed at energy savings, applicable for purchasing, building, renovating, or adding renewable energy systems.
Baan Ber 5 Home Loan(สินเชื่อบ้านเบอร์ 5)
A GH Bank home loan for residences certified as energy-efficient ('House No. 5') by EGAT.
Solar Roof Loan(สินเชื่อ Solar Roof)
A supplementary loan for welfare beneficiaries to finance the installation of solar roofing systems.
Half-Price Interest Loan Project(โครงการสินเชื่อดอกเบี้ยคนละครึ่ง)
A loan program by BAAC where the government subsidizes 3% interest per year for eligible farmers.
GSB Low-Interest Loan Project to Revitalize Thai Businesses(โครงการสินเชื่อดอกเบี้ยต่ำ GSB พลิกฟื้นธุรกิจไทย)
A 100 billion baht credit line from GSB aimed at assisting entrepreneurs in adapting their businesses for environmental and digital advancements.
SME Green Productivity Loan Project(โครงการสินเชื่อ SME Green Productivity)
A loan program from SME D Bank supporting SMEs in transitioning to green industries, including for energy efficiency and electric vehicle supply chains.
EXIM Support Plus Measures(มาตรการ EXIM Support Plus)
A credit line from EXIM Bank to provide working capital for Thai exporters impacted by increased shipping costs.