Finance to issue saving bonds worth THB 50 – 80 bn by the end of Q3

BANGKOK, 11 January 2010 (NNT) – The Finance Ministry is prepared to issue saving bonds worth 50 – 80 billion THB by the end of Q3, in order to fund the Strong Thailand scheme.

Mr Korn Chatikavanij, the Finance Minister, unveiled that saving bonds of 50 – 80 billion THB would be issued by the end of Q3. The issuance was aimed to capitalize on the Strong Thailand scheme, under the second phase of the economic improvement strategy with the projected budget of 1.43 trillion THB.

The Government had already approved an investment framework of 1.3 trillion THB. The Minister indicated that the mentioned saving bonds were the second issuance with the same condition, with higher return than the deposit interest rate, to attract residents taking part in the Strong Thailand scheme. Senior citizens will be given the priority to make the bond reservations.

The Finance Minister confirmed that the Government had not yet made a plan to borrow from the foreign money market, other than the negotiations previously made which include the Japan International Cooperation Agency (JICA), the World Bank and the Asian Development Bank.