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Thailand : GOVERNMENT SAVING BANK wins financial-bridging loan auction

June 5, 2014

According to Public Debt Management Office director general Chularat Suteethorn, the Government Saving Bank (GSB) won an auction for a financial-bridging loan valued Bt50 billion proposing the lowest interest rate.

The long term auction focused to profit the debt owed to the farmers under the rice-pledging scheme. The Public Debt Office (PDO) called for bids from banks keen to lend to government for the scheme .

GSB proposed an interest rate of Bibor minus 0.1 per cent per year, converting into an annual rate of 2.1792 per cent for the first loan of Bt30 billion to the Bank for Agriculture and Agricultural Cooperatives.

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Source: TendersInfo (India)

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