GSB to upgrade 1,000 village funds.

(From Bangkok Post)

The Government Savings Bank expects to upgrade 1,000 top-performing village funds into village banks by the end of the year, according to GSB president Goanpot Asvinvichit.

The village banks in turn would be able to offer financial services to at least 5,000 village funds in the vicinity, resulting in the creation of a stronger community finance system.

Mr Goanpot said each village bank would serve as a funding source for nearby village funds, thus extending the investment opportunities for local villages.

The village investment fund programme was started four years ago by the government as a one-million-baht revolving …