Thai govt, banks pledge 2.5 bln US dollars for tsunami-hit area
6/1/2005 14:48
The Thai government and state banks have pledged around 100 billion baht
(US$2.5 billion) in fund and loan to rehabilitate the tsunami-hit southwestern
coast area.
Following an earlier government announcement of a 28 billion-
baht (700 million-dollar) budget for rehabilitation, several state banks and the
Stock Exchange of Thailand promised the other 72 billion baht (US$1.8 billion)
in forms of fund and soft loan to help affected business and property back to
normal.
However, the authorities said they currently have no idea as how much
loss the disaster caused, which might impede the relief efforts.
"It depends
on all of the parties and might not be as easy as many expect," said Chotisak
Asapaviriya, president of the Small and Medium Enterprises Bank of Thailand (SME
Bank).
"We may have the money ready, but the recipients must be ready, too.
All potential recipients have to be closely examined," he was quoted by
newspaper Nation as saying on Thursday.
The devastating tsunami on Dec. 26,
2004, hit Thailand's six coastal provinces, including the provinces of Phuket,
Krabi and Pangnga that are well-known among international tourists.
Tourism
income of the above three provinces accounts for one third of the kingdom's
annual tourism revenue.
Local reports noted it might take one or two years
for local business to rebuild damaged properties and recover back to the pre-
disaster level.
The Tourism Authority of Thailand has yet to come out with an
assessment report of the disaster situation in the south.
The Finance
Ministry also said that the disaster has only limited influence over the
country's economic growth.
Xinhua
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