Bangkok: The Social Security Office has joined forces with seven banks to expedite the approval of urgent loans for 616 businesses impacted by severe flooding in southern Thailand, amounting to over 6 billion baht. This initiative aims to safeguard the employment of more than 80,000 workers.
According to Thai News Agency, Ms. Trinuch Thienthong, the Minister of Labor, unveiled comprehensive measures to support both employers and employees affected by the floods in the southern region. She emphasized the importance of rapid intervention to help businesses resume operations and preserve jobs. The Social Security Office has collaborated with seven government and commercial banks to introduce the third phase of the Employment Promotion Loan Program, slated for 2025-2026, with a total budget of 30 billion baht. To date, the program has approved loans totaling 6.27 billion baht for 616 businesses, ensuring the continued employment of 82,771 individuals.
Ms. Trinuch further elaborated on the compensation payments to insured persons, indicating that a total of 6,140,935 million baht has been disbursed so far. This includes death benefits for 13 individuals totaling 873,228.80 baht, unemployment benefits for 5,003 individuals amounting to 5,267,706 baht, funeral expenses of 175,000 baht, death benefits of 135,599.40 baht, and old-age benefits of 562,629.40 baht.
The Minister of Labor reaffirmed her dedication to providing comprehensive and swift support to insured employees and employers, underscoring the need for a rapid economic recovery in the southern region, particularly in Hat Yai, a key economic hub.