PM signs Bt400bn loan decree, vows zero graft

Prime Minister Anutin Charnvirakul announced yesterday that he has officially signed a draft emergency decree authorising the Ministry of Finance to borrow 400 billion baht to address energy crises and fund the country’s energy transition.

Speaking at 6.10pm, Anutin, who also serves as the Interior Minister, assured the public that the funds would be managed with absolute transparency, promising "not a single satang" would be lost to corruption or collusion.

The Prime Minister stated that the decree will soon be published in the Royal Gazette. A screening committee, chaired by the permanent secretary for finance, will be established to vet all proposed projects to ensure they align strictly with the decree’s objectives.

"As the head of government who signed this decree, I am personally responsible for every baht… I give my word that the Cabinet and I will monitor this closely. There will be no 'under-the-table' deals or collusion. Everything must be transparent and solely for the benefit of the people," Anutin said.

Addressing concerns raised by credit rating agencies like Moody’s, regarding Thailand’s new borrowing, the Prime Minister argued that the move is financially sound, noting that the government is borrowing exclusively in Thai Baht, effectively eliminating exchange-rate risks.

Furthermore, he emphasised that the loans carry low interest rates and will not require raising the existing public debt ceiling.

"The real burden for any government is interest, but we secured very low rates," Anutin explained. "This also provides liquidity to domestic financial institutions. Lending to the government is secure. There is no risk of Non-Performing Loans (NPLs), so banks do not need to set aside heavy reserves," he claimed.

Unlike long-term infrastructure projects that take years to yield results, he stressed that this capital injection is designed for immediate relief.

"This money goes directly to the people. It isn't for projects that will only be seen in five to seven years," he said, adding "it allows citizens to access funds immediately to lower their cost of living and improve their overall quality of life."