Government offers loans to Thai workers returning from Israel

The Thai government pledged to extend low-interest loans of up to 150,000 baht to each Thai worker who has been forced to return from Israel due to the ongoing war in Gaza, Palestine. The loans aim to help Thai workers settle any outstanding debts with job brokers or to fund alternative career paths.

Paopoom Rojanasakul, the finance minister’s secretary, revealed yesterday that the Cabinet had directed the Government Savings Bank (GSB) and the Bank for Agriculture and Agricultural Cooperatives (BAAC) to allocate two billion baht for Thai workers displaced by the conflict that began on October 7.

Workers who were previously engaged in vending or self-employment activities before relocating to Israel can apply for loans of up to 150,000 baht each through the GSB.

Simultaneously, those who were farmers could secure the same loan amount from the BAAC, Paopoom explained.

He highlighted the unfortunate predicament of Thai workers who had to prematurely return to Thailand due to the war, leaving them without sufficient funds to settle their debts or establish other careers.

Some Thai workers opted to stay in Israel despite the conflict, fearing they wouldn’t earn enough to repay their debts back home, he added.

Loan conditions

In response to their plight, the Cabinet approved the low-interest loan scheme, stated Paopoom.

Government spokesperson Chai Wacharonke provided further details about the loan conditions, which include a grace period of up to 12 months and a repayment term of up to 20 years.

The loan carries an annual interest rate of 3%, with borrowers being charged only 1%, while the government will subsidise the remaining interest. Workers can apply for these loans until June 30.

Additionally, Chai mentioned that Labour Minister Phiphat Ratchakitprakarn proposed at yesterday’s Cabinet meeting that returning Thai workers receive an additional 50,000 baht in compensation from the central budget set aside for emergencies.

This is in addition to the 15,000 baht they have already received from the Labour Ministry’s fund for Thai workers abroad.

The Labour Minister suggested that the additional compensation should benefit the 5,000 to 6,000 Thai workers who returned during the early stages of the war, stated Chai.

Releasing Thai workers

Meanwhile, Foreign Affairs Minister Parnpree Bahiddha-Nukara embarked on a visit to Qatar and Egypt on Tuesday to discuss the plight of Thai workers abducted by Hamas.

He is slated to meet Thai Prime Minister Srettha Thavasin, the foreign affairs minister of Qatar in Doha and the foreign affairs minister of Egypt in Cairo.

“The Thai government is opening all negotiation channels possible to coordinate with Hamas to seek the release of the [Thai] hostages as soon as possible.”

The 61 year old Thai prime minister confirmed on Monday that 22 Thai workers are being held hostage, with several others unreachable.

Parnpree reiterated the urgency for all Thai workers in Israel to return home as soon as possible, reported Bangkok Post.

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