Dr. Rak Vorrakitpokatorn, President of Export-Import Bank of Thailand (EXIM Thailand), joined executives from financial and non-financial institutions at the launch of the “Khun Soo, Rao Chuay” (You Fight, We Help) Program, along with the signing ceremony for a Memorandum of Understanding (MOU) and Letter of Intent. The agreements were signed by Dr. Sethaput Suthiwartnarueput, Governor of the Bank of Thailand (BOT); Mr. Lavaron Sangsnit, Permanent Secretary of the Ministry of Finance; Mr. Payong Srivanich, Chairman of the Thai Bankers’ Association; and Mr. Giorgio Gamba, Chairman of the Association of International Banks. Presided over by Deputy Prime Minister and Minister of Finance Mr. Pichai Chunhavajira, the event took place at the BOT on December 11, 2024.
The “Khun Soo, Rao Chuay” Program aims to support specific groups of retail and SME borrowers through mechanisms that encourage financial discipline and help prevent future defaults. The initiative enables debtors to retain collateral such as homes, vehicles, and business premises, while lowering both current and future debt burdens. Interest exemptions under the program further ease financial pressure on participants. For retail borrowers with non-performing but low-value debts, the program also offers a pathway to convert their status from “bad debt” to “debt resolved,” allowing them to rebuild their financial stability more quickly.