IMF officially approves increased lending capacity

14 Sept 02:35 Key points summarised by AI

The IMF's Board of Governors approved a historic $650 billion increase in the institution's lending capacity, representing the largest Special Drawing Rights (SDR) allocation ever.
This initiative aims to provide a crucial boost to the global economy, specifically targeting aid for the most vulnerable countries severely impacted by the COVID-19 crisis.
Newly issued SDRs will be distributed to member countries proportionally, with emerging and developing nations slated to receive around $275 billion, and wealthier nations encouraged to channel their SDRs to support poorer countries' recovery efforts.

New home loan scheme aims to boost property sector with Bt125 billion

20 Oct 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.