Thailand to allow use of 'economically valuable trees' as collateral for financial loans

BANGKOK (THE NATION/ASIA NEWS NETWORK) - Owners of 58 types of 'economically valuable trees' will be able to use them as collateral when applying for loans at financial institutions under a new policy, Government spokesperson Narumon Pinyosinwat said on her Facebook page.

"This policy was proposed by the Ministry of Commerce as a measure to help people gain access to financial aid and promote the growing of economically valuable trees in communities," she said on Saturday (July 18).

"The ministry therefore issued a regulation regarding other types of valid collateral that can be used under the Business Collateral Act BE 2558, while the types of economically valuable trees will be according to the Forest Plantation Act BE 2535."

The spokesperson also posted pictures and a list of the 58 economically valuable trees, along with the common name in Thai and their scientific names in English.

Among them are teak, mango trees, durian trees, tamarind trees and all types of bamboo.