Soft loans offered to employers affected by earthquake damage

Businesses damaged by the Myanmar earthquake can now apply for soft loans with 2% interest and up to 5 years for repayment, says government spokesman.

Employers whose factories or workplaces were damaged by the Myanmar earthquake on 28 March are now eligible for soft loans as part of government support measures, a government spokesman announced on Monday.

Karom Polpornklang, Deputy Government Spokesman, said that affected business owners can apply for loans through the Occupation Safety, Health and Environment Fund of the Department of Labour Protection and Welfare.

Loan Terms and Conditions

Karom explained that there is no upper limit on the loan amount. Businesses must repay the loans within five years at an interest rate of 2% per annum.In addition, employers whose workplaces have saving cooperatives can apply for loans of up to 20 million baht to help pay their workers. These loans also carry a five-year repayment period with a 2% annual interest rate.

Worker Compensation Measures

Karom stressed that the Department of Labour Protection and Welfare will ensure all workers receive full compensation as required by law in the event that a workplace must close or cease operations due to quake-related damage.If a business is permanently shut down, workers must be paid up to their final day of employment, along with termination compensation for dismissal without prior notice.

In cases where operations are temporarily suspended, employers are required to pay staff 75% of their regular salaries. If workers do not receive the payments owed, they may file a complaint with the Department or pursue legal action via the Labour Court.

(2025/04/07-00:00)