Central Group has approved 2.3 billion baht to boost the sustainable grass-roots economy, including 1.5 billion baht to buy products directly from growers and community enterprises, including farm produce and SME products, for sale in stores to support 25,000 farmer households in 42 provinces.
The move is part of a Central Group initiative to support the government's fight against the spread of Covid-19 after the group and the Chirathivat family, which operates the retail giant, said they recognised their crucial role in helping address the crisis.
The Chirathivat family ranks fourth on Thailand's 50 Richest 2020, according to Forbes.
The group on Tuesday issued a statement welcoming the government's policy of bringing in the country's richest to help ease the burden caused by the crisis after receiving a letter from Prime Minister Prayut Chan-o-cha.
Gen Prayut last week wrote to 20 Thai billionaires asking them to provide assistance projects to help vulnerable people who have been affected by the Covid-19 pandemic. He on Tuesdaythanked the 20 Thai billionaires for replying to his letter, expressing their intention to support the government's policy.
Tos Chirathivat, Executive Chairman and CEO of Central Group, said in the statement that the Covid-19 pandemic had made a large impact that was truly global in scope.
He said the company has adapted its response to integrate sustainability into its Social Responsibility Plan. Those efforts kicked off with measures to aid 74,000 members of staff at various business units of Central Group to stay employed, while giving Covid-19 insurance to each one. The company is also looking to implement projects that will create jobs, reduce the cost of living and boost health.
Mr Tos said all of these measures which will help stimulate local economics and generate income will be put into place with the dedication and expertise of Central Group.
"We are confident that all of these measures can help spread the government's burdens and help to revive the Thai economy. We are ready to cooperate with every sector for Thailand's best interests,'' said Mr Tos.
