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SME Bank launches plans to set up 5,400 community banks.
(From Thai Press Reports)
Section: Business News - The Small and Medium Enterprise Development Bank of Thailand (SME Bank) hopes to upgrade 5,400 village funds into community banks by the end of next year, the head of the National Village and Community Fund Commission revealed.
Speaking at the opening of a new community bank in Thailand's northeastern province of Loei, Mr. Suwit Khunkitti, who is also Natural Resources and Environment Minister, said that since the government set up 74,722 village funds of Bt1 million each three years ago, 16 million members of the public had taken out loans.
The Village Fund scheme, the largest of its kind in the world, has seen debt repayment rates of 97 percent, a figure which Mr. Suwit described as 'the world's best ...
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