Banks pooh-pooh bridge loan offer | Bangkok Post: business

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Banks pooh-pooh bridge loan offer

Still concerned on borrowing mandate

  • Published: | Viewed: 8,072 | Comments: 8
  • Newspaper section: Business
  • Writer: Wichit Chantanusornsiri & Somruedi Banchongduang
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The Finance Ministry called off yesterday's bridging loan auction aimed at borrowing to repay unpaid rice farmers as only a few banks participated in the bidding, adding to caretaker Prime Minister Yingluck Shinawatra's woes. 

Farmers in lower northern provinces rallied last week to demand rice-pledging payments from the government. THITI WANNAMONTHA

Growing opposition against the caretaker government's 130-billion-baht borrowing plan and worries as to whether caretakers have a mandate to borrow have discouraged banks from joining in the auction, said an unnamed source at the Finance Ministry.

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