The Cabinet today approved the Oil Fuel Fund Office’s (OFFO) requested 150 billion baht loan. The Ministry of Finance is supporting this loan so that households may afford the rising cost of energy.
According to the plan, the government agency will borrow a total of 150 billion baht (about $4.5 billion) in loans, with the first two tranches each being worth 30 billion baht.
Between February 2023 and July 2023, OFFO would take out six tranches of loans totaling 120 billion baht.
According to Government Spokesperson Anucha Burapachaisri, the Ministry of Finance will stand as a guarantor.
As of 16 October 2022, the deficit in Thailand’s oil fuel fund was 125.69 billion baht. The energy price problem caused by the protracted conflict between Russia and Ukraine costs the fund about 222 million baht every day to help absorb. This cost is projected to increase further as winter approaches.
The loan agreed today is anticipated to help manage retail prices of commodities and inflation, which the Thai government argues is necessary to alleviate the financial strain suffered by the general public.
 requested 150 billion baht loan. The Ministry of Finance is supporting this loan so that households may afford the rising cost of energy.){kind=link}