. 2552 PDG5240011 1... 2... 3. 4... 5... 6.. 7.. 8. 9. 1. 2. 3. (.) ( . ) I V VII VIII 1 1-1 1-1 1-3 1-3 1-7 1-9 1-11 1-11 1-12 2 2-1 2-2 2-10 33-1 3-2 3-9 3-18 44-1 4-2 4-6 .4-13 4-17 () 5 : 5-1 : - --5-2 5-7 5-9 5-10 5-12 5-14 5-19 5-27 5-33 6 : 6-1 6-2 6-19 6-24 -1 1.1 1-5 1.2 1-6 3.1 3-12 4.1 4-3 4.2 4-7 4.3 4-10 4.4 4-12 4.5 ( )4-14 4.6 () / / 4-19 4.7 4-24 5.15-5 5.2 5-12 6.1 / 6-16 6.2 6-17 6.3 ()6-18 6.4 2551 ()6-19 6.5 2551 ()6-20 () 6.6 6-21 6.7 3 ( 2548-51)6-23 6.8 6-26 1.1 1-2 1.2 1-4 1.3 :1-7 1.41-7 1.5 / 1-8 1.6 1-10 2.1 2-10 2.2 (Social Performance)2-13 2.3 Social Performance Task Force (SPTF)2-14 4.1 4-9 5.1 .5-2 5.2 5-6 5.3 5-7 5.4 5-15 5.5 5-15 5.6 . .5-16 () 5.7 .5-17 5.8 VS : 5-27 5.9 5-30 5.10 : 5-31 6.1 . 4 .. 25526-4 6.2 . 18 25526-7 6.3 . 19 25526-11 i / double bottom line matrix ii 80-150 200-300 60-70 ( ) 0.5 6 3 36 100-300 10% 8-9% (.) iii (benchmarks) 80 70 1-1 1 1.1 / 1 2 (1,227 ) (78,013 ) 1.1

1 14 2551 2 1-2 1.1 (SWOT Analysis) :,, 14 2551 1-3 1.2 15 2552 1) 2) 3) 4) 5) double bottom line matrix 1.3 3 (2 1 ) 1.2 1-4 1.2 5( 2552) ., ., 1-5 1.1 .

1 4 . 10 . 2 . 1-6 1.2 .

7 . 5 . 7 . 7 7 . . 9 1-7 1.4 1.3 : : 1.4 49 /ABCDABCD 1-8 1.5 ( ) 1.5/ 10 1-9 1.5 3 1. 2. 3 1 2 1-10 (BestPractice) 1.6 . 3-4 3. (FocusGroupDiscussion) 3 1-11 1.6 1234 5 X X XXx #1:+ 1 + 2 XXXXx 2 XX X #2: / 3 : XXXx X #3: / 3 : XXXxX XXXXXx X 1.7 1) 2)3) 1-12 1.8 7 1 2-4 1 2 2 3 4 5-7 5 5 6 2-1 2 (microfinance institution MFI) ConsultativeGroupto Assist the Poor (CGAP) 7 2-2 1. 2. ( Standard & Poors) 3. 4. 5. 6. 7. 2.1 MicrofinanceConsensusGuidelines& AppraisalGuide CGAP 4 1) (financialsustainability) (profitability) 2) (asset/liability management) 3) (portfolio quality) 4)/ (efficiency / productivity) 2-3 2.1.1 (financial sustainability) (profitability) 1) (return on equity) = / : 2) (return on assets) = / : ( ) 3) (operationalself-sufficiency) = / ( ) ( ) : 2-4 4) (profit margin) = / : 2.1.2 (asset/liability management) 1) (loantodepositratio)= ( ) / : 85-90 100 2) (yield on loan portfolio) = / : 3) (currentratio)= / ( 12 ) : ( ) ( ) 4) (yield gap) = 100% - [ / ( x )] 2-5 ( ) 10% : 5) (cost-of-fundsratio)= / ( ) : ( 6% 4% 2%) 2.1.3 (portfolio quality) 1) (portfolio-at-risk ratio PAR ratio) = 1 ( PAR30) / : PAR30,PAR 90, PAR 120 PAR 180 2) (write-off ratio) = / : 2-6 3) (loanlossreserveratio)= / PAR, PAR 30, PAR 90, PAR 180 : ( 100 PAR180 180 , 50 PAR 90 ) 4) (debtserviceabilityratio)= / () : 5 2 (24 ) 1 100,000 100,000x 0.02 = 2,000 4,000 4,000/2,000 = 2 2,000 ( ) 2,000+2,000=4,000 (GDP per capita) 2.1.4 / (efficiency / productivity) 1) (loanofficerproductivity)= / : 10 2) (averagedisbursedloansize)= / 2-7 : 3) (average outstanding loan size) = / : ( 2.) ( ) 4) (cost-to-income ratio) = / + : 50-60 5) (cost per client) = / : ( 4.) 60 2-8 ( ) 2.1.5 (adjustments) / (in-kindsubsidies) / ( ) Yaron(1992) Schreiner(2001) Subsidy Dependence Index (SDI) (1)S = A (m - c) + [(E * m) - P] + K S = A = () m = 2-9 c = A E = P= ( ) K= ( ) (2) SDI = S / (LP * i) SDI = Subsidy Dependence Index S = ( (1)) LP = i = SDI SDI (loanlossreserve LLR) (portfolio at risk PAR) 100 180 50 90-180 LLR PAR MicroBankingBulletin (http://www.themix.org/) 2-10 2.1 : Microfinance: where do we stand today?, Ajit Jain Caroline Norton,MicroBanking Bulletin, Spring 2009, 11 ( ) Section29 InternationalAccountingStandards(IAS) ( ) (netassets) 2.2 ( ) ( (economic empowerment) ) 2-11 Progress Out of Poverty Index ( PPI) 1. PPI 10 13 2. PPI 2-12 3. PPI 1. (breadthofoutreach) 2. (client povertylevel) (Gross National Income per capita) 2005 350 SocialPerformanceTaskForce(SPTF) (bestpractice) 2-13 2.2 (Social Performance) STPF 2-14 2.3 Social Performance Task Force (SPTF) [------------------------------------------][--------------------------------------] ( ? )20. 21. 22. ()-/()- ( )()- ()- / ()-1. 2. 3. (Social Responsibility: SR)4. ( )5. 6. 7. 8. 9. 10.11.12. 13. 14. 15. 16. ()17. 18. 19. STPF - ( ) ( ) - - - 2-15 - (focus group) - - - - - ( , ) - - PPI - - - - ( INAFI) STPF TheGlobalReportingInitiative(GRI ) FOROLAC-FR( 50 ) INAFI(InternationalNetworkofAlternativeFinancialInstitutions 25 )Social Indicators Project Millennium Development Goals (CGAP 30 ) 2-16 FOROLAC-FR INAFI FOROLAC-FR 1) : % : % 1. :% :( ( ) + ) / ( + ) 2. : ( ) : ( ) 3. : 4. :% ( ) % :% ( ) 5. :% : % :% 6. :% / 2-17 2) /: % / : % : % 7. : % :% : % : % 8. : ( ) , , 2-18 INAFI 1. : 2. %: 5 %: ( ) 6 (-) % 5 3. ( ) ( ) ( ) 2-19 ( ) ( ) 4. ( , , ) () ( ) ( ) % () 5. 4 : % : - () - - - % 3-1 3 .. 2500 (.) . . (; 2533) 3-2 2 (1) 2 ..2540 .. 2540 .. 2540 2 1) (mean) (end) 2) (2) 3.1 .. 2535 (BasicNeedRequirement) (.) .. 2524 . 2528 . 2530 .. 2504 2519 13 .. 2518 (.) .. 2532 10 3-3 .. 2520 2529 45 (Basicneedsapproach) .. 2522 (2522-2531) 2 1) 2) .. 2524 (.) (.) .. 2525 .2. 5 34 ..2528 (.) .. 2530 .2. . 2 6 31 5 (2525-2529) 3 3-4 1 () 2 () 3 ( ) ( ,2530 ,2545) .. 2530 2540 6 7 6 3 82 ( , 2548) .. 2530 1189 - .. 2532 . .. 2533 . .. 2535 . 7(2535-2539) 3-5 .. 2538 9 53 2 11 64 5 40 .. 2539 8 (Holistic) 7 (OECD) (UN-ESCAP: United Nations Economic Social Commission for Asia & the Pacific) (UNDP)(UN) 3 (WBI : Well-Being Index) OECD 1) (HWI:HumanWell-BeingIndex) 2) (EWI:EcosystemWell-BeingIndex) . 8 9(..2540--2549) 725 3-6 (, 2551) .. 2541 2540 2 1) 2) ( 2 ) 8(.. 2540-2544) 9(.. 2545-2549) 10(.. 2550-2554) ( ; 2550: 4) .. 2540 . 8 (2540-2544) 8 39 .. 2542 31 ..2544 . 9(2545-2549) 6 37 ..2544 UNDP 10 18 3-7 .. 2545 (WBI:Well-Being Index) 7 18 25 5 22 .. 2546 (compositeIndex) .. 2546 420 .. 2547 2548 10 3-8 2 69 59 .. 2548 (.) (.) 3 .. 2549 7 (1) (2) (3) (4) (5) (6) (7) .. 2549 " " 5( .. 2550-2554) (2549) (GDHI:GrossDomesticHappiness Index) 25 10 3-9 -- .. 2550 ( ) -- 16 3.2 2530 .. 2540 (2539) (CommunityIndicators) .. 2540 3-10 5 3 1) 2) 3) - 3.2.1 ( :2550, : 2548) 4 ( , , ) ( , , ) ( ) ( ) ( : 2552) ( ,2547) (2550) 1) 2) 3) 3-11 4) (2541 ,2541) 6 7 (2545) 1. (1)(2) (3) (4)(5) 2. (1) (2) (3) (4) (5) (6) (7) (8) (9) () 3-12 (2550) 3.1 / 1. 2. 3. 4. 5. 1. 2. / 1. / 3-13 ( ) 3.2.2 (.) (2545) 9 (2539) 4 1. 2./ 3. / 4. / (.) (2546) 3-14 1) 2) 3.2.3 - 7(..2535-2539) 3-15 (2548) (2549) " " (2549) 1. 2. 3. 4. 5. 3-16 6. 7. 8. (HealthyCommunities) / / (area-based) 4 (.) 3-17 (. . ,2543) 2,500 1. 2. ( ) (area-based) () . - - (GDP:GrossDomesticProduct) (GEP:Gross EcologicalProduct) (GMP:GrossMoral Product) (GNH:Gross National Happiness) (.) (2546) (.) (.) 3-18 ( ) ( ) ( ) 1) 2) 3) 4) 5) (.) (2549) 1.

2524 1) 2) 2530s2540s 1) . 2) 3) -. 4) . 5) ABAC poll ... 3-19 2. 3 3. 4. outcome indicators impact indicators output indicators.. 2540.. 2550 / 4-1 4 3 - UNDP (UNDPThailand2003) 1

1 ( ) 4-2 4.1 2510 ( :2548) (: 2548; 1) 1. 2. 3. 4. 5. 1 1-3 1. 10 () 4 1) 2) 3) 4) 2. 11 3 1) 2) 3) 4-3 4 1. 15 2. 7 3. 7 4. 3 4.1.1 4.1 1. - : / - : / 2. - / : - : / ** 3. - 4. - 5. - : - : 4-4 - : 6. - // : / - // : // - // : /7. - : - : / 8. - : / 9. - : / - : / 10. - / : () 6 10 4-5 4.1.2 1. - - - - : - - : 2. - : - : - : / // - : -: ) 4-6 4.2 8-9 ( ) 1 2 1. 2. 3. 4. 5.// 4.2.1 2 2546 2547 1. 2546 (4.2) 3 AAA, AA A AAA 2 . . 30 2552, http://www.villagefund.or.th/index.aspx?parent=433&pageid=469&directory=1972&pagename=content 4-7 4.2 1 (AAA) 2 (AAA) 3 (A) 1) * 90 70-80 70 * 80 60-80 60 2) 3) - - - 90 - - - 75 - - - 60 4) 80 70-80 70 2. 25473 3 (GoodGovernance) 2 (4.1) 3 . .. 2547 4-8 1) 2) 3) 4) 5) 6) . 37 6 ( 4.3) . . . 4-9 4.1

2 1. 2. . 3. . 3 - - 3 - ...1. - - 2. 3. 4-10 4.3 1.1 1) 2) 3) 1.2 4) 5) 6) 7) 8) 9) / 10) 11) 12) - 13) 14) 15) 16) 17) 1. 1.3 18) 19) 20) 21) // 22) 23) 24) ./ ( ) // 4-11 2.1 25) 26) 27) ( ) 28) 29) 2.2 30) 31) 2. 2.3 32) 33) 34) 35)/ 36) 37) () : ( ) 2547 4-12 4.2.2 2 4.4 1. - / (2546) - / (2546) - ( 2547) - // ( 2547) - . / // ( 2547) 2. - ( 2546 2547) - ( 2547) - ( 2547) - ( 2547) - - ( 2547) - ( 2547) 3. - 2547 4. - (2546) * * * - ( 2547) 5. // - 2 / 4-13 . .. 2547 4.5 4.3 . 1. 2. . ( ) 3. / ( 2 / ) ( 2 ) 4-14 4.5 ( ) 4.5.1 () 1. 2. 3. - 4.- 5. 6. 7. 8. 9.- 10. - 11. 4-15 4.5.2 1. 2. 4.5.3 1. 2. 3. 4.5.4 1. 2.- 3. 4-16 4.5.5 1. 2. : 4-17 4.4 22 63 4 - 11 26 3 (), 6 (), 7 (), 8 (), 9 (), 11 (a ), 13( ), 15( ), 16( ), 20 () 22 () - 10,000 15 42 1 ( / ), 2 ( ), 12 ( )14 (/)- 15,000 18 49 5 ( ), 10 () 21 ()- 20,000 22 63 4 ( ), 17 ( ), 18 () 19 () 4-18 4.6 3 . (23,000 / ) 9 15 4 5 10 - 4-19 4.6 () / / / - - 1. ( ) 2. ( 1 ) 3. 1. 80 90 ( 1 ) 1. 1. ( ) 2. ( 1 ) 3. 1. 90 ( 1 ) 2. 1. ( /) 2. ( ) 3. 4. 5. () 6. 6 7. ( ) 8. ( 30 ) 1 4 5 6 7 8 4-20 / 3. 1. ()2. ( . 23,000 /) 3. ( ) 1 2 3 4.1. 2. 3. () 4. () 4 80 90 ( 1 ) 5.(/ ) 1. 2. 3. 4. / () 6.() 1. /2. 1 3. 3 4. 4-21 / 7.1. 2. () 8. 1. ( ) 2. 9. 1. ( / ) () 10. 1. 7 90 () 2. 2 ( ) 3. 1 / 2 11.a 1. ( 2 ) 2. ( 2 ) 12. 1. () 2. / ( ) 3. ( ) (/ ) 13. 1. 5 1 3 2. / 12 / ( 5 ) 4-22 / 14. / 1. ( 5 ) 2. (-) ( 1 - 5 2 3 ) 15. 1. 20 75 2. 100 ( ) 16.1. / ( ) 2. 10% 50% 17. 1. 2. ( ) 3. 3 . ( ) 18. 1. () 80 2. ( -) ( 2 ) 19.1. / ( ) 3. (/) 4-23 / 20. 1. ( ) 2. 3. () 4. ( ) ( 1 ) 21.1. 2. 3. 5 22.1. 8 2. 12 ( ) : 1. 2. 3. 5 4. 5. 6. 7. . / . . 28. 70 90 1. 2. 3. 3 4. - 5. 6. 4-24 4.7 11 26 15 42 18 49 22 63 1. ,999 2.999 3.9999 4.9 5.99 6. 9999 7. 9999 8.9999 9. 9999 10. 99 11.a9999 12. 999 13. 9999 14./ 999 15.9999 16. 9999 17. 9 18.9 19. 9 20. 9999 21. 99 22. 9999 10,000 15,000 20,000 : 5-1 5 : 5 20 (Kiatipong,KobsakandThammanoon2005) . 30 5-2 23 2552 5.1:--- ( ) ( ) ( ( .. .. 19 1 5 12 5.1 . . 1 12 1 12 5-3 12 3 ( ) 5.1 50,000 -60,000 20,000 20,000 5-4 ( ) ... (1) (2) ( ) 5 ( )

5-5 5.1 SME bank OTOP . : 23 2552 5-6 4 ( 5.2) 48 5.2 // ABCD -- / / / A B C 5-7 D E B C (5.3) 49 5.3 /ABCDABCD 5.2 1 1 8 2552. 5-8 20 ( ) AAA ( 4) AAA 5-9 ( ) ( ) 10 () .. 30 300 2 5.3 ( ) () 50-100 3 2 ( 2552) 1 3 10 10 5-10 80-150 200-300 60-70 ( ) 500 3 15 ( ) 5.4 ( ) 300- 400 3 36 100-300 0.5 6 6 5-11 4 ( ) 6 70-90 12 10-20 10% 8-9% 4 5-12 5.2: AAA 1. 10% 2. 10% 3. 15% ( 1000 ) 4. 10% 5. 5% 6. 50% 11. 1 10% 2. 20% 3. 10% 4. 20% ( ) 5. 5% 21. 50% 2. 50% 1.20 %2. 80 %3. 5% : 31 1 2552 5.5 5-13 2-3 100 150 6 5 36 3 6 1 30 (36-6) 1 3 5 5-14 5.6 30 -- 3 300 200 ( 2) 5-15 5.4 . 11. 11. 11 200 b bbb b, 300 - ( ) 5.5 .10 , bbbbbbbbb 5-16 5.6 . . ()1231123121112333 () 3 - 22 ( ) 5-17 5.7 . 53 (), d dbb bb() d dbb bb() d dbb bb ( ) 6 6 5-18 : 1 10 20 .. 2535 21 20 10 16 . 5 .....(23 2552) 1 : 5-19 5.7 5.7.1 ( ) ( 1) 5-20 1 bestpractices ) ( .. 22 .. ... // 5-21 1 () 10 25-60 3 ... .. .... ..... .. ... 20 ... ... ) ( ..... ... 40 5-22 1 () ) ( )( 300 .... 3-4 26 94 12,900......... 1000 ) 11 ( 15 5-23 5.7.2 1 7 5.7.3 ( ) ( 2) 5-24 / 4 5.7.4 1 . 20,000 2 3 2-3 ... 5-25 ( 20,000 ) 5,000 20,000 2 4 5.7.5 : 70 5-26

20 40 .. .... . .. 300 100 400 100 ... ...... ... .. 2: ? 5-27 5.7.6 5.7.7 5.8 5.8.1 5.8 VS : 60 0 / / 5-28 5.8.2 : 20000 1 100 20000 1 20 5() 80-90 1800 . 5-29 5.8.3 : 20 200 70 70 70 70 70 ( 2) 5.8.4 5.8.5: ( ) ( ) 5-30 ( ) 2-3 1 1 20,000 20,000 20,000 () ( ) 5.9 551 3 6 9 12 3 ()1 ( ) 20,000-- 2 5 30 5-31 5.10 : 561 3 6 9 12 3 ()1 -5.8.6 1. 2. 3. 4. 5-32 ... 5.8.7 ( .) . 10,000 ( ) 5-33 5.8.8 6 3 o o o 5.9 6-1 6 : ( 6.1) ( 6.2) 5 . ( ) ( 6.3) (benchmarks) 6-2 6.1 11 3 21 5 6 3 (1) / (2) 1

3 1

1 (1) (2) 6-3 4 (4) (3) (2) (1) 6.1 6.2 6.3 ( ) 6-4 6.1 . 4 .. 2552 (1) () : (2) - - - - / - - - - 2 / 2 - - - -() / 1. / 2./ 3. 4. ( //)

(5) / - - 10% 15% - - ? - ? - 6-5 () () : - - () - - / (5) / (1) () 5. 6. ( .) - ( 1 180 2,500 ) - (100 ) 7. 8. 9. 70 / (2) / ( + ) / 6-6 (2) :. ~20 () / 79~35() / 111~20 / 68N.A. 1. / : 25.3%31.5%29.4%N.A. 0-10%=4, >10-20%=3, >20-30=2,> 30=1 2 1 2 N.A. 75 / 19695 / 16740 / 253100 / 160 2. /

: 38%56%17%62% >80-100% = 4, >60-80%=3,>40-60=2, 40=1 1 2 1 3 : () 6-7 6.2 . 18 2552 (1) : / 1. (7) / 2. (5) / 3. (3) 3 / (+) / 4. (2) 5. (2) / 6. (1) / 7. (1) / 8. (1) 9. (1) 10. (1) 11. / 12. / 13. / 14. / 15. / 16. / 6-8 (2) () 1. / (14) 1. 3 / (5) 2. / (6) 2. / (17) 3. / (1) 3. / (7) 4. / 4. / (9) * / (2) 5. / 6. / 7. () / : 6-9 (3) 6 5 4 3 2 1 123456 / 6-10 (4) : .8 .6 .2 .10 .9 4 / 983 / 572 / 724 / 840 / 63 / 4.1%5.2%2.8%4.8% ()0% 0-2.5 = 4, >2.5-5 = 3,>5-7.5 = 2, > 7.5 = 1 3 2 3 3 4 0 / 987 / 5728 / 1000 / 840 / 63 / 0%12%28%0%0% 0-5% = 4, >5-10% = 3,>10-15 = 2, > 15 = 1 4 2 1 4 4 10 / 3700 / 262000 > 3 / 2.7%0%0%0%0% 0-2.5 = 4, >2.5-5 = 3,>5-7.5 = 2, > 7.5 = 1 3 4 4 4 4 2 / 1510 / 57N.A.3 / 8410 / 63 / :13.3%17.5%N.A.3.5%15.9% 0-10% = 4, >10-20% = 3,>20-30 = 2, > 30 = 1 3 3 N.A. 4 3 38 / 125140 / 278 / :70%~90%~57%50%~75% >80-100% = 4,>60-80% = 3,>40-60% = 2, 40% = 1 3 4 2 2 3 : () 6-11 6.3 . 19 2552 (1) 1.1./ 2. 2. / (5) 3. ( 10%)3. / (1) 4. 4. / (2) 5. + 5. / + ( 80%) (2) 6. (1,700,000 ) 6. / // / (2) ( + + ) ( + ) / : 6-12 (2) ooooo / -- -- - 6-13 (3) : .1 . / :0% 12,000 / 1.8 = 0.6% 1 0-2.5 = 4, >2.5-5 = 3,>5-7.5 = 2, > 7.5 = 1 4 4 / : 50 / 248 = 20.2% 0% 2 0-10% = 4, >10-20% = 3,>20-30 = 2, > 30 = 1 2 4 / + 80% 6.8/ 5.8 = 117% 1.8/ 3.2 = 56% 3 >75-85% = 4, >65-75% = 3,55-65% = 2, < 55% = 1 >85-95% = 3,> 95-105% = 2,>105% = 1 1 2 / >2-2.5 (791,798353,421)/ 384,192 = 1.14 (1.80.040.16) / 0.62 = 1.6 / 0.62 = 2.5 4 >2-2.5 = 4,>1.5-2 = 3,1-1.5 = 2,< 1 = 1 >2.5-3 = 3, > 3-3.5 = 2,>3.5 = 1 2 4 : ( ) 6-14 6.1.1 ( ) () o o o o 6-15 ( ) 6.1.2 ( 6.1-6.3) 6-16 6.1 / / /-7 / 5- 3/ 5 / 25 / -1 /17 / -9 / 00 /-0 / *- / *- / + *2 / 514 / -2 / -1 / -0 / -6 70/2- /1- /-4 ?? : 0 - * 6-17 6.2 / /- / 25.3 - 31.5%3.5 - 17.5% 3 / 0 - 2.7% / -0.60% / 2.8 - 5.2% / -0 - 28% / -- / -- / -- / -- / + -56 - 117% / 17 - 62%50 - 90% /-1.14 - 2.5 / -- / -- / -- 70 / -- / -- / -0 - 20.2% ?? : 3 9 - 6-18 6.3 ( ) / 3 / > 5-7.5 %> 7.5 % / > 5-7.5 %> 7.5 % / > 5-7.5 %> 7.5 % / >10-15 %> 15 % , , / -- + /-- / -- / -- / + 80% 55-65% > 95-105% < 55% >105% / > 40-60 % 40% / > 2-2.5 1-1.5 > 3-3.5 < 1 >3.5 / -- / -- 70 / -- / -- / > 20-30 %> 30 % ?? 6-19 6.2: , .11 , .10 6.4 2551 ( ) 2551 (: ) 1 2 3 8,381 151,795 - 1,269,7871,676,619 643,439 1,123,526 -- 6,097,3003,938,1701,375,074 310,466 -70,0008,809,4605,766,5842,088,513 - 1,100,0001,100,000- 1,000,000 - 5,692,8803,146,927 840,345 3,116,58051,240 56,595( )468,417 91,572 8,809,4605,766,5842,088,513 6-20 6.5 2551 () 2551 1 2 3 0.1%2.6%0.0% 14.4%29.1%30.8% 12.8%0.0%0.0% 69.2%68.3%65.8% 3.5%0.0%3.4% 100.0%100.0%100.0% 0.0%19.1%52.7% 0.0%17.3%0.0% 64.6%54.6%40.2% 35.4%0.0%0.0% 0.0%0.9%2.7% ( )0.0%8.1%4.4% 100.0%100.0%100.0% 6-21 6.6 1 2 3 / 4.00%0.90%3.30% / +7.00%0.00%3.30% () / +107.10%75.10%70.90% / 4.90%N/A6.30% () / 32.50%53.10%20.00% / 24,5867,8455,392 / 3082318 / 0.8714.613 / + 8.40%0.60%0.70%

6-22 1 2 3 308 23 18 2 3 1 107.1 75.1 70.9 2 3 100 1 ( ) 1 1 12.8 14.4 29.1 30.8 2 2 53.1 32.5 1 20.0 3 ( 50) 2 0.9 4.4 3.0 1 3 100,000 2550 1 2551 5.4 0.9 94.6 75.1 2 2551 6-23 4 3 6.7 3 ( 2548-51) 2548254925502551 3 / 13.4%13.6%10.1%8.2% / 4.6%5.0%4.1%3.3% / (+)58.2%65.2%75.0%75.0% (1) (+) / 8.6%10.9%7.9%6.3% (2) / (1 + 2) / 8.6%10.9%7.9%6.3% / / +5.0%6.1%4.0%3.3% / +100.9%77.7%70.8%70.9% ( - ) / -19.2%-4.3%-0.6% ( - ) / 13.0%12.0%-1.4% / 8.6%10.9%7.9%6.3% / 30.5%22.2%20.0%20.0% / 2.6%2.4%1.7%1.3% / ()17914910172 / ()6,7526,1266,0685,392 / ()66852518 / ()4.774.3813.0013.00 / + 14.1%3.4%0.8%0.7% 6-24 3 2549 2549 2550( 13 12 ) 1.42551 13.4 2548 8.2 2551 8.6 6.3 6.3 6.3.1 6.3.2 ? 3 6-25 tradeoff( ) 5 6.3.3 6.3.4 6-26 6.8 (1) 20 ( ) () (5) (4) (3) (2) (1) ( 100) 420% 12 60% 4 20% 80 3 15% 12 60% 5 25% 78 9 45% 7 35% 4 20% 85 6 30% 11 55% 3 15% 83 2 10% 12 60% 6 30% 76 3 15% 6 30% 11 55% 72 2 10% 9 45% 9 45% 73 5 25% 11 55% 4 20% 81 5 25% 13 65% 2 10% 83 7 35% 11 55% 2 10% 85 8 - 6 - 4 - - 10 50% 7 30% 3 15% 87 7 35% 9 45% 4 20% 83 6-27 (2) 6 () () (5) (4) (3) (2) (1) ( 100)

5 83.33% 1 16.67% 76.7 3 50% 3 50% 70.0 4 66.67% 233.33% 93.3 1 30% 5 55% 83.3 5 83.33% 1 16.67% 76.7 1 16.67% 3 50% 2 33.33% 76.7 5 83.33% 1 16.67% 76.7 1 - 4 - - 2 - 3 - - 2 33.33% 4 66.67% 86.7 - 1 16.67% 4 66.66% 1 16.67% 80.0 2 33.33% 3 50% 1 16.67% 83.3 6-28 -1 . (2546). . : . . (2548). . : . . (2546). Thai Happiness Indicatots:TMHI-66. (Online) Available at. http://www.dmh.go.th.. (2551). . : (.) . (2550). (.. .. 2550) 4-11. . (2546). 19 2546. . . (2550). . : . . (2550). . : . . (2549). (Online) Available at. http://www.kmi.or.th/document/sustain_dev.pdf (2533). . (). : . . (2547). 2 12 - 13 2547. (). -2 . (2538). ( ). : . : . . (2545). . : . . (2550). (.. .. 2550) 40-47. . . (Online) Available at.http://cddweb.cdd.go.th/khaokho/page3.html 29 2552. . (2549). . (Online) Available at.http://www.gotoknow.org/archive/2006 /02/27/09/06/42/e16964 . (2549). . : (). . (2546). . : . . (2548). (- 2548) 30. . (2538). ( ). . : . . (2547). . : . . (2548). . : . . (2548). (1) . (17-23 2548) 30. .(2539). / . . : . -3 . (2550) 3 26 2550 . .(2539). . . : . (2539) . (). . : . . (2547). ( ). : . . (Online) Available at. http://www.villagefund.or.th/index.aspx?parent=433&pageid=469&directory= 1972&pagename=content 30 2552 (.). (2550). . : . . (2546). . : (). ( ). (2539). . : . . (2541). : (20 2541) 6. .(2543). . : (.). -4 CGAP. (2003). Microfinance Consensus Guidelines: Definitions of Selected Financial Terms, Ratios, and Adjustments for Microfinance. Washington, D.C.: CGAP http://www.cgap.org/p/site/c/template.rc/1.9.2784. CGAP. (2004). Disclosure Guidelines for Financial Reporting by Microfinancial Institutions. Microfinance Consensus Guidelines. Washington, D.C.: CGAP www.cgap.org/publications/guidelines.html Christen, Robert Peck, Brigit Helms, and Richard Rosenberg. (1999). Format for Appraisal of Microfinance Institutions. CGAP Technical Tool No. 4. Washington, D.C.: CGAP www.cgap.org/publications/technical_tools.html Isern, Jennifer, Julie Abrams, and Matthew Brown. (2007). Appraisal Guide for Microfinance Institutions: Resource Guide. Technical Guide. Washington, D.C.: CGAP. www.cgap.org/p/site/c/template.rc/1.9.2972KiatipongAriyapruchya, KobsakPootrakool, and Thammanoon Sodsrichai.Long-term Saving in Thailand: Are we saving enough and what are the risks?. A paper presented in the Bank of Thailand Annual Symposium 2005. M. Barluenga-Badiola. (2003). Performance Indicators for Microfinance Institutions: Technical Guide. 3rd edition. Washington, D.C.: Social Development Department, IDB, September 2003. www.iadb.org/sds/publication/publication_2666_e.htm Microfinance Information Exchange. Social Performance Standards Report. http://www.microfinancegateway.org/files/56433_file_Social_Performance_Report_ENGLISH.pdf Microfinance Information Exchange. The MicroBanking Bulletin Report. No.18. Spring 2009. Microfinance Information Exchange. The MicroBanking Bulletin Report. No.17. Autumn 2008. Schreiner, Mark. (1995). A Framework for Measuring the Performance and Sustainability of Subsidized Development Finance Institutions. January 1995. www.microfinance.com/English/Papers/Framework_for_Measurement.pdf The Social Performance Resource Center and Social Performance Task Force. http://www.microfinancegateway.com/resource_centers/socialperformance/ I -1 -3 -25 -1 -1 1 -3 -1-1 -5 -1-2 1-9 : .4 . . . -9 : . . .-12 : . .-19 -1-3 1-27 -2 2 -39 -2-1-41 -2-2 2-44: .4 . . . -44 : .1 . . .-48 : 3 4 . . .-51 -2-3 2-57 -3 3 -61 -3-1 -63 -3-2 -65 -3-4 3-75 -1 -1 1 -3 -1-1 -5 -1-2 21 22 2552-9 : 6,7,8 . . .-9 : -19 : -25 : ( ) -28 : -33 -2 2 -37 -2-1 -39 -2-2 2-43 : .4 . . . ()-43 : .3 .7. . .-46 : -55 : -64 : ( )-74 -2-3 2-87 -3 3 -91 -3-1 -93 -3-2 -97 -3-3 -101 -3-4 -121 -1 -1 -3 : .7 . . .-5 : -10 : -13 : -33 I / 1. 2. 3. 4. 1. 2. 3. 34 4. 2 3 ( 2) ( 3) ( 4) ( 5) I / 5. 1 - - 2 - 3 - / 5. 6. 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- 1 - 1 - 5,000 ( 1 ) 1 - 3 (Financial Sustainability) -24 3 : : 1 09.00 11.00 . : , , , : ..

- ..2530 -- - - () - - 107 40 70 3 7 4 5 ( 150 80 70 ) 5 16 6 7 8 5 6 ( ) - 30 ( + ) 60 -70 15 -25 - - 2 ( ) - 50 ( 8 ) () - ( ) 6 - 3 ( 4 5 ) - 50,000 500,000 ( ) 1,320 /1 50 ( 1,360 )- 4 3 4 . .- -26 2 1. 2. - ( 3 ) 2 , . , - - -27 -1-3 1 31 1 ..2552 .4..1-10. . 2-2.5 30 3 8 4 8 2-2.5 30 - ()- - % - - 2 42000 500 10 1500 /-- - - - - - - - -28 ...1-10. . .4 AAA 3,6,9 AAA 2 6 275 264( 60%) 70% (80 - 165 ) 200 30 50 60% 100-2000 / 3 2 1 6 10 x 10 100 10 x 10 50 100 12 12 6-7 7 ( 4% 6% 3) 2,000 100,000 ( ) 5,000 20,000 , , , 5,000 20,000 -29 ...1-10. . .4 AAA 3,6,9 AAA 2 6 100,000 1. 10% 2. 10% 3. 15% ( 1,000 ) 4. 10% 5. 5% 6. 50% 1 4 1. 1 10% 2. 20% 3. 10% 4. 20% ( ) 5. 5% 2 1. 50% 2. 50% 1.20 % . 2.80 % ( ) 5% -30 ...1-10. . .4 AAA 3,6,9 AAA 2 6 ( 12 ) ( 6 2-3 ) 90,000 75,000 ( ?) - . . 10,000 - 3 .4( ) - 10 , - -. -31 ...1-10. . .4 AAA 3,6,9 AAA 2 6 o o () o o 3 4 - 5,000 20,000 , , , - 3 4 - - 6 -32 ...1-10. . .4 AAA 3,6,9 AAA 2 6 , -. - -. - Roll-over ( Roll-over Roll-over ) ( % ) 15 4 -33 ...1-10. . .4 AAA 3,6,9 AAA 2 6 - ( / ////) - - - -35 3 - - () - - - o o - 20,000 - () () - - - - - - - - ? - % -36 - - - crosscheck 1. (?) 2. o o o o o o o o 3. o o o o Outcome (?) -37 : /// 4. 5. 6. ( ) 7. 3 - 5 / - () / - - - -2 2 -41 -2-1 / 4 10.15 11.30 . 1/03/2552 212 .4 . . . - 414 .4 . . . - 4 .4 . . .-4 36 .4 . . . - 4 .. 429 .4. . . - 4 .. 206/1 .4 . . .- 4 206 .4 . . . - 4 -42 1 11.40 12.40 . 1/03/2552 174 .1 . . . - () 37 .1 . . . - 1 149/1 .1 . . .- 1 171 .1 . . . - 1 -- 1 169 .1 . . . - 23 .1 . . . - / -43 3 4 13.45 15.45 . 01/03/2552 115 .3 . . .- 112/1 .3 . . .-- .. 184 .3 . . .-- .. 93 .3 . . .- 3 53/3 .3 . . .- 3 129 .3 . . .- 3 95/1 .4 . . .- 4 47/3 .4 . . .- 4 47 .4 . . .- 47/1 .4 . . .-- . -44 -2-2 2 1 ..2552 : 4 . . . : 1 ..2552 10.15 11.30 . / 4 1 2 3 4 44 1234 59374344 3 - 1 - 2 4 - 2 - 2 5 - 2 - 2 3 - 3

- -45 1234 - 130,000 - 50,000 - 360,000 - 10,800 36,000 - 237,000 - 255,600 - 75,000 85,000 - 15,000 70,800 50,000 - ( 500 ) 10,000 - ( 1,100 ) 10,000 - ( 1,000 ) 3 - ( ) - - 2549 1 - 10,000 - 30,000 -2551 1 ( ) - - 2550 3 (30,000) . (30,000) (100,000) - 2551 1 20,000 - 140,000 -2550 2551 2 20,000 30,000 - 50,000 -46 1234 4 ** 1 ** 4 4 ** 1 ** 100 4 ** ** 4 - - ( 1 4 ) 4 - 4 - - 1 - ( ) 4 - 2 - () 4 - 4 - 4 - 4 - . -- 5,000 -47 1234 - - - () - - - . 10 - - - 10% - 2,000 - () - ( ) - - 3 - - 3 - - - - 3 // - - 5 - - 3 -48 : 1 . . . : 1 ..2552 11.40 12.40 . / 1 2 3 4 3331111 1 2 3 4 73406357 1 () 8 - 6 - 2 5 - 4 - 1 4 - 3 - 1 - ( ) -49 1 2 3 4 - - 432,000 - 54,000 72,000 - 375,000 - 375,000 - 156,000 - 148,800 9,700 - ( 50 ) - ( 50 ) () - ( 500 1,000 ) - ( 150 200) () - ( 500 ) - ( 500 ) - (200 ) 45,000 - ( 400 ) - ( 400 - ( 200 ) - ( 200 ) 3 - - 2549 2 30,000 - 2550 2551 1 15,000 - 50,000 -2550 2551 4 (20,000) (5,000) (4,000) (5,000) - -50 1 2 3 4 ** 1 ** 1 ** ** 1 ** - - ( 9 ) - - () - - (5 ) - - - - (5 9) - - - - -- . -51 : 3 . . . : 1 ..2552 13.45 15.45 . / 1 2 3 3 123 554252 8 - 4 - 3 - 1 4 - 2 - 2 2 - 1 - 2 () - 1 - - 420,000 () - 184,000 - 300,000 - 124,000 - 50,000 -52 123 50,000 - 40,000 50,000 - . 300 - . 2,500 3,000 - . 1,000 20,000 - 5,000 - 200 3 8,600 - 2550 2 . 75,000 - 2551 2 200,000 - 275,000 - 2550 2551 1 12,000 14,000 - 44,000 - 2550 2551 1 20,000 - 40,000 - ** - - ( ) - - - -53 123 - - ( ) - 3 . , 3 - - - 10 - - - 1 3 ( 5-6 ) - - ( ) - - - - 3 - - - - 3 -54 : 4 . . . : 1 ..2552 13.45 15.45 . / SML 1 2 3 121 123 443345 5 - 3 - 2 5 - 3 - 2 3 - 2 - 1 ( ) - 2 - - 10,000 20,000 ) - 3,000 - 150 20,000 30,000 ( ) 6,000 - 600 -55 123 3 -- - 2550 2551 1 10,000 14,000 - SML 10,000 - 24,000 - - 2550 2551 2 . 12,000 10,000 - 2552 2 13,500 - - 23,500 SML - - ( 80%) - - - ( 2 ) - - - - -- - - - - -- 30% - - - -56 123 ( ) - - - - 3 - - - - - - 3 -57 2-3 2 1 ..2552 ., . . - 4 .6 1 . 6 3. 1, 4 . - - ( ) - ( ) - - -58 - 20,000 ( ) 20,000 ( .) ( .) . . -(4) 4 ( 12 ..) 3 ( ) 200 500 4 (100 ) 5000 -59 - ( ) AAA - - ( ) ( ) - 2 ( .3 .) - - ( .4 .) - - 2 3 -60 -3 3 -63 -3-1 / . . 4 .. 2552 09.30 . 15.30 . .. .- .- .. .- .- .- .- .1 .- .1 .- .1 .- .- .. .4 .- .4 .- .1 . - .1 . - .1 . -- .3 .- -64 .3 . - 4 . - . 4 . - .7 . - .8 . - .10 . - .- .-- .-- .-- .-- -65 -3-2 . . 4 .. 2552 09.30 . 15.30 . 4 2552 / 9.00-9.15 9.30-10.15 - - - 2 1. 2. - share powerpoint . 10.15-10.30 10.30-11.30 3 : 1. / 2. 1 ( ) . / : . + . + . : . ) + .+ . -66 ( 2 1 1 1 ) 3 1 1 / 11.30-12.00 12.00-13.00 2 1 2 3 13.00-14.00 - (ranking) ( ) - ( 1 3 ) 1 2 3 1) 2) 3) 4) . 14.00-15.00 15.00-15.30 - - . -67 4 . . 4 .. 2552 1 - / - (), --, ( ) - - - / 1. / (3) - 2 200 () 2.(1)- ( + + ) - 4 2 2 / - - . .- . . - . . -.. -. -. - 10.30 11.30 . -68 3. (2)- - 4. (1)- -2 3 100 - - - , / 5. (1)- 100%- 6. (1)- - - 7. (1) () - ( 1 180 2,500 ) - (100 ) - ( 60 ) - - / 8.-- 20% - / - 2 () - 30 x 70 (3 8 / ) () - 20% 40% () - - () -- 200 x 7 - 200 x 55 , - 100 x 500 -69 2 / 1. - - -1. - - 2. 3. 10% ( ) - 2. - ( 20,000 ) - .1, .3, .4, .7, .8 .10 - -.. -.. -. - 10.30 11.30 . -70 / 3. - - () - - - - - - 9 4 4. / -- 5. - - 2% -71 : () (2) - - - - / - - - - 2 / 2- - - -() / 1. / 2./ 3.4.( // ) (5) / - -10% 15% - ?? - ? ? - ? - -72 () 5. 6. ( .) - ( 1 180 2,500 ) - (100 ) 7. 8. 9. () () 70 / (2) - - () - - / (5) / (1) / ( + ) / -73 ~20 () / 79 ~35() / 111 ~20 / 68 N.A. 1. / 25.3%31.5%29.4%N.A. 75 / 19695 / 16740 / 253 100 / 1602. / 38%56%17%62% -75 -3-4 . . 4 .. 2552 . .- 21 6 6 ( 3 22 2 ) 5 () 3 15 18 100-200 ? - powerpoint powerpoint power point - 1)( 25--30% )2) ( 40-80%)( ) ranking idea ( 1 ) -76 ranking 1)Matching (2) (3) 2 1 1 4)() 5)- (2) ? ( disqualified ) 3 -(3) ( ?) ( ) + . -1 1 -5 -1-1 / 21 2552 6, 7, 8 10.30 12.00 - - 116/1 .8 . . .- . ..57 .6 . . .- . 6 39 .7 . . .- 102 .7 . . .- 12/2 .7 . . .- 85 .8 . . .- 54/1 .6 . . .-- 57/3 .6 . . .-- 154 .6 . . .-- 58 .6 . . .-- 173/1 . . .- -6 6, 7, 8 10.30 12.00 () 64/1 .6 . . .- 22 .7 . . .- . 22 .7 . . .- - - NBT - .11 . . 13.00 15.00 28 .11 . . .- 111 .11 . . .- .11 98 .11 . . .- . . 15.30 17.30 226 .10 . . .- -7 22 2552 .4 . . 09.30 11.00 .4 . . .- .. .4 . . .- 4 13.30 15.30 4 - 4 -- -- -- . -- . -- --

-9 -1-2 21 22 2552 : 6, 7, 8 . . . : 21 2552 10.30 -12.00 . : . : / / / / / / / / : / . . . - 9 ( 7 ) - - 4,951 94.31% 73.19% 10.53% 10.49% + 5.69% 0.10% - . 25,000 ( . .. 2550 23,000 ) - 6 -7 () - - ( ) .. 2545 ( ) -10 20 - . ( . 30,00050,000100,000 )- 1 - - - 200,000( . 100,000 ) - 3 - 1) 2) ( ) - 7 - 5 - . 50,000 4 9 9 - 6 -11 9 - .. 2543 - 9 - .7 . 850,000 720,000 ( .7 100,000 100 ) 4-5 . - ( 10 ) - 9 7 .. ( . 15,000 ( . .. 2536) .) - .. 2 280,000 - .. - .. - 2 8,000 - - - ( 8 ) - 3 -12 7 . . . : 7 7 4 7 : / : - 7 2543 ( 90 )- ( .) - 200 7 ( 2552 ) - 2 1) / 6 2) / 6 - 1 31 .. - - 2 - 850,000 - 7 - 1 ( ) 900 - 1 -13 - 70% ( ) - 2 1) 2) () : () - 720,000 70 - 3 1 - 1.5 - 1 - ( ) - - - - 1.5 ( ) 1 - - 31 .. ( ) -14 - (2551) 70,000 - .. 2552 25,000 . 20 - 23,600 - 1) 1 100 3 1 2) 100 14 3) 1 20 ( ) 1,000 4) 3 200 7 . . . : : / : . .. 2543 90 7 50 900 -15 80 1 .. 2552 . 25,000 20 100 14 () 3 200 70 3 1 ( ) ( 70 ) 7 . . : 7 : : - 1 (2544)- 50-60 214 - 6 - 60 ( 20,000 12,000 ) - 2 ()- 15 10 -16 - ( ) - 1,200 45,000 8 . . . : : . / : - 950 ( . 6 1,144 ) - ( ) - 11 4 () - 1,030,000 80,000 - 5 10 - o10% o35% o30% o 5% o 10% o 10% - 6% 20,000 10,000 - 2 - 50 3 4 - . 20 - -17 - - 8- - - 700,000 - 50 , 100 , 200 5 50 50 - - 3 12% - 300,000 - () - 114 ( 8 ) 210 / - 30,000 - .. - 3 1 2 5 10 3 () 700,000 - 80,000 300,000 3 1,030,000 -18 - - o 3 () o o o -19 : 28 11 . . . : 21 2552 13.00 -15.00 . : .11 : / / / / / / / / : / 11 . - 11 . - ( ) - 6,000 - (-.)- .. 2544 ( . 11.) ( 10 20 ) ( )- .. 2544 1 -20 o ( ) o - 1 o 1 o - 11 AAA 1 .. 25482549( ) - 09.00 15.00 . - 470 11 300 11 10% AAA + 100,000 + . 11 -21 - 11 11 ( ???) - 1) 2) 3) 4) ( 200 ) - 1 - - MIS - ( ) - 5 1,100,000 1,000,000 ( ) 3 - () - 3 1) 1% 2) 12 5% 3) 24 6% - ( ) - -22 - 18 - 60% - 500 - 1) ( ) 2)3) 3 1 4) 50,000 - 6 A,A+,2A,3A+,B C - - () 1 1. ( ) 2. 3. 4. -23 - 100,000 () - 20,000 20 1,000 ( 1,000 ) ( ) 200 ( 1 ) () - ( ) ( ) - - ( --) ( 6 ) - - - o ( ) o -24 - o . 100,000 ( 1 2 1 ) o - - - - -25 : . . . : 21 2552 15.30 17.30 . : : / / / / / / / / : / - ( ) - ( ) - 50,000 1 - CPO ( ) - 2 -24 2548 ( ) 1 6 - 2548 ( ?) - 3 ( 2 ) -26 - 2549 1 5% / - 300,000 - o () o 500 o - -o 13 o (. ) 1 3 1 20,000 2 + ( ) + 1 20,000 50,000 - 2 - 200 - -27 - * 5 * 8 + * 12 + + * 15 - - 480 170 251 o 50 80 o o o - 251 40 ()o o 200,000 o 5% 15% - - (. , .) - 13 - -28 : () 4 : 22 2552 09.30 11.00 . : : / / / / / / / : / - . .. 2542 - 1,100 4( 4 3,000 ) 25 - 2,841 ( ) - - - ( ) - 17 ( 50 ) -29 - 7 - 30% ( 100,000 120,000 ) - 10 1 10 10 100 - 70,000 9 ( 10 ) - 300 - 1) 25 19 2) 20 17 () ( ) () Background ( ) 3 () - 2 -30 - ( ) 2 1) 2 ( ) 2) 1 ( ) - 1 90,000 90 () - ( ) - (Roll Over) . 3 4 - 1 - - 20 - 30,000 40,000 - - 2 50% 50% ( 30% ) - 7 -31 - 21 13 () - 29 - o 13 o 1,800 ( ) 10 () 18,520 3 - 2 1) 2) - - 1 - - ( ) -32 - - 50 ( ) ( 1 10 50 ) - ( ) - - () - ( ) - - - -33 : 4 . . . : 22 2552 13.30 -15.00 . : : . : . 200 300, 000 ( SML 250,000 ) perception 10 150, 000 100 200 -34 . 4. . . - . - . 150,000 50,000-60,000 - 4-5 - - ( )- . . . - . . . 4 . . . : . : . / . : . / . .. - - 120 -35 - - - - - - 1,000,000 - 20-500 260,000 - 2 4 3 4 10 - - - ( 2 ) 1 - 3 1 10 080-143 2625 -36 - ( 20) - 20-50 500 10 - - - - : -2 2 -39 -2-1 / 14 2552 3 09.40 11.20 41 .3 . . .-... .. 23/3 .3 . . .- 23/1 .3 . . .- 40 .3 . . .- 25 .3 . . .-.. 7 09.30 11.10 102 .7 . . .- 17/1 .7 . . .- 73 .8 . . .- -40 .11 . . 11.40 14.30 28 .11 . . .- 111 .11 . . .- .11 98 .11 . . .- 54/2 .11 . . .- 116/1 .11 . . .- .. .. 4 . .- 267 .5 . . .- 19/1 .12 . . .- .. 39 .8 . . .- 51 .11 . . .- 47/8 .11 . . .- 54/11 .11 . . .-- 18 .3 . . .-- 102/3 .3 . . .- 54/4 .11 . . .-12 109/3 .11 . . .- -41 .10 . . 16.30 17.15 201 .10 . . .- 206/3 .10 . . .- 210/2 .10 . . .- 185/4 .10 . . .- 163 .10 . . .- 163/2 .10 . . .- 159/1 .10 . . .- 160 .10 . . .- . 5 . . 15.00 16.00 110/1 .5 . . .- 103/1 .5 . . .-- 35/4 .5 . . .- 138 .5 . . .-- 69/4 .5 . . .-- 244/3 .5 . . .-- 84/4 .5 . . .- .5 -- -42 15 2552 .4 . . 09.40 12.45 36 .4 . . .-- 123 .4 . . .- 120/7 .4 . . .- 113/1 .4 . . .- 108/1 .4 . . .-- 33/1 .7 . . .- 7 120/3 .4 . . .- 128/2 .4 . . . , 6 34/1 .4 . . .-, 4 30/9 .4 . . .-- 34/3 .4 . . .-- 30/8 .4 . . .- 58/3 .5 . . .-- 58/3 .5 . . .-- 58/3 .5 . . .-5 58/3 .5 . . .- 8/1 .4 . . .- 57 .5 . . .-5 8/ .4 . . .- () -43 -2-2 2 : .4 . . . 13 2552 13.00 15.00 . / 1 2 3 21 -44 1 ( ) 2() 3 () 566029 3 - 2 - 1 - 1 500 - 1,000 - 4 - 2 - 2

- , , - - 90,000 -- 546,000 - 506,000 () - ( 30 ) - ... ( 1,000 ) - 3 -- - ... 2535 30,000 ( 5,000 ) 140,000 - 2549 15,500 -- 2551 2 ... 36,000 250,000 - ... 200,000 - -45 123 ** 2547 - - ( 1 ) -- -- - - 800 - ... 1,900 ( 2 ) - - - -- ( ) - - 3 3 - - - - 3 10 -46 : 3 . . . 14 2552 09.40 11.20 / . 1 2 3 31121 -47 1 23 404860 3 - 2 - 1 5 - 2 - 3 2 - 1 2,000 - 1 - 4 250 , - 80,000 - 100,000 - 30,000 14,000 - - - . ( 100 ) () - () - ( 50 ) - ( 250 150 100 ) - . ( 100 ) - ( 100 ) 3 -2551 2 20,000 . 30,000 - 30,000 - 20,000 -48 1 23 .** 1 ** 3 ** ** 1 ** ** -- ( ) - - ( ) ** - - - - - - - - . ** - - 5 ( ) - - - - - - - - -49 1 23 ( ) - - 3 - - - - - 3 - -50 : .7 8 . . . 14 2552 09.30 11.10 . / 7 8 1 2 3 31311 -51 123 405355 2 - 1 - 1 - 2 3,000 5 - 2 - 2 - 1 1,000 6 - 4 - 2 - 2 9,600 3,000 4,000 5,600 - , . - .7 - 150,000 - 100,000 - 23,000 - 17,000 - 103,960 - 57,560 50,000 - 20,000 - 20,000 - 10,000 ( 100 ) () - ( 200 ) - ( 100 ) - ( 200 ) () - 7 8 ( 2 100 ) 3 3,000 - -52 123 -2551 2552 2 20,000 () - 40,000 - 2549 1 20,000 - 2551 1 10,000 ( ) - 2552 2 4,000 .. ( ) - 2550 3 7 . 20,000 750,000 100,000 - 2551 2552 7 20,000 ** ** . . .. ** 1 ** ( ) ** 1 ** 7 8 8 ** 1 ** 7 8 7 8 - () - 5 2 - - - - ( 1-2 ) - ( ) 7 - - . -53 123 () - - 1 - ** - ( ) - 1 - - - - - - - - - 3 1. . 2. 7 3. 8 - 2-3 - - - . 500 - 20% - - - ???? - - - -54 123 ( ) - - - . - - 3 - - - 2 -3 - - 3 - - () - - - 2 - 3 -55 : 11 . . 14 2552 11.40 14.30 . / 1 2 3 4 2111 -56 1 ( .) 2 ( .) 3 ( .) 4 ( .) 37463756 5 - 2 - 3 3 - 2 - 1 8 - 2 - 6 - 4 140,000 4 - 3 - 1 () (, ) 3 ,, -- 70,000 -- 138,650 20,000 - . ( 8,000 10,000 ) - ( 100 200 ) 15,000 - ( ) 11,640 - AIA 6,840 ( 180 ) - 12 4,800 ( 100 )

() - ( 500 ) - . ( 100 ) - ( 200 ) 3 - -2551 1 . 30,000 - 20,000 - 6,000 - 70,000 - 2550 2551 1 . 5,000 10,000 -57 1234 12 ** 1 ** - - ( 2 ) -- - - ( 1 ) - - --- - - - - - -- - -58 1234 - 30% - - - - - -- - - () - ( ) - - 4 -5 - 3 - 3 -- 3 - // /. -59 : 11 . . . / () 1 2 3 4 5 132 -60 1 ( .) 2 ( .) 3 ( .) 4 ( .) 5 ( .) 5436247336 8 - 4 - 4 - 2 3,000 4,000 4 - 2 - 2 4 - 1 - 3 8 - 4 - 4

5 - 2 - 3 , ( ) , , , , ( ) - 115,200 - 115,200 - 70,000 - 500 - - 150,000 - 100,000 -61 12345 20,000 - ( 200) 2,000 - . ( 500 ) - ( 2,000 3,000 ) 11,200 - . ( 10,000 ) - . ( 1,200 300 500 ) ** . ( ) - . - . (1,000 2,000 3 4-- - 2552 1 . 20,000 ( 2 ) ( ) ** . () . ** 1 . . . - () - - ( 1 ) . - , -- - -62 12345 - () - . - --- -- . - - - - - - -- 30% - - - - - - - - - - -63 12345 ( ) -- - - - 3 - - - - 3 - - - - - 3 -64 : 10 . . . 14 2552 16.30 17.15 . / 1 2 3 4 5 42 -65 1 ( .) 2 ( .) 3 ( .) 4 ( .) 5 ( .) 3560626249 4 - 2 - 2 - 5 3 - 2 - 1 4 - 3 - 1 - 2 2,000 3 - 2 - 1 - 4 400 500 () 5 - 2 - 3 - 150,000 ( 13,000 15,000 /) - 0 700 - 100,000 - 60,000 - 500 600 - 100 - 85,000 13,000 - . - ( 100 2 ) () - . ( 50 -100 ) 3,600 - . ( 150 ) 40,000 50,000 - .- . 700 - ( 100 ) -66 12345 3 4- - ( 2 3 . 30,000 10,000 ) - 2550 1 50,000 + 2550 2551 1 ** 1 ** - - - - - - ( 2 ) - -- - 1 2 -67 12345 - - () - - - - - ** - . ( 1,500 ) - - - . - . 500 - - - - 50% - - 4 -5 - - - - - . - - -68 12345 () - - - - - ( ) - - -- - 3 - - - - 3 - - - - 3 - - . - - 3 - - - 3 -69 : .4 .5 () . . . 14 2552 15.00 16.00 . / 1 () 2 () 3 4 5 2122 -70 1 ( .) 2 ( .) 3 ( .) 4 ( .) 5 ( .) 4240683948 9 - 8 - 1 - 1 1,000 6 - 4 - 2 - 2 2,000 3 - 2 - 1 - 4 140,000 4 - 2 - 2 2 - 2 - 2 , - 2 - - 10,000 - - 1.68 - () - () - () - (50 /) - (200 /) - (50 /) ** . 3,000 1.9 - . - . - . () - ( 200 ) 3 - -71 1 2345 - ()- - 120,000 . 50,000 70,000 - 2551 2 15,000 8,000 + () - 100,000 - 2551 1 20,000 - ** ** 1 . - - () - - - () - ( 1 3 ) --- - - --- -72 1 2345 - - - 2 - - - - - - - - - ** - 80 90% - - - - ( ) - - - - - - ( ) - - 10 - - - 10 - - - - - - -73 1 2345 ( ) () - 3 / - - 3 - 3 - 3 ** / -74 : 4 . . . 15 2552 09.40 12.45 . / 4 ( 5 . 1 2 3 4 5 6 7 8 9 10 52123 -75 1 ( ) 2 ( ) 3 ( ) 4 ( ) 5 ( ) 3852535031 6 - 2 - 4 - 2 2,000 4 - 2 - 1 - 1 6,000 7 - 5 - 2 6 - 3 - 3

7 - 3 - 4 ( .) , , . , , - 170,000 - 146,000 - 150,000 ( ) - 24,000 - 18,000-19,000 + 7,000 - 70,000 / 100,000 - 50,000 ( ) - ( 200 30,000 ) 55,000 - 25,000 ( 300 ) - . 30,000 ( 5,000 ) 100,000 - ... - . ** 1.3 () - - .4 - .5 3 750 -76 12345 3 2 - 2548 20,000 - 10,000 ** - 2551 80,000 - 30,000 - 2549 1 50,000 - 2551 1 ... (20 ) 13,400 - 5,000 ()- 2550 1 ... 300,000 - 300,000 - 2551 2 5,000 5 5,000 - 5,000 ** ** - ** - ** ** .4 .5 - - ( 2 ) - - , () - , - - , ()

-77 12345 - - - - - - - - - - 30

- - - - - - - - - () - - - 50 - 25% - - - - 80% - - - - - 50% - 2 - - - -78 12345 ( ) - - - - - 3 () - - 3 - - - - 3 - // /. - - - 3 // - - - - - - 3 () - - - - -79 6 ( ) 7 ( ) 8 ( ) 9 ( ) 10 ( ) 7440395081 1 () - 6 300 1,000

4 - 1 - 3 - 3 4 - 2 - 2 3 - 1 - 2 - 1 2,000 - , - - 48,000 - 5,000 - 89,000 - - 3,940 - ( 50 ) 20,.000 - ( 1 120 4 2 ) 100,000 - ( 200 // 4 ) 160 ??? - -80 678910 3 - - - 2549 33,000 - 18,300 - 2551 1 27,000 - 2551 1 30,000 - 30,000 - ** .4 2550 ** 1 ** - ( ) - - ( ) - - () - - (6 /) - - - - - - - - - - - - 100 - -- - -81 678910 () - 50 - 300 , 100 , 50 ( 450 ) - - - - - - - - - - - - - - - - -82 678910 ( ) - - - 3 - - - - - 3 () - - 3 ( ) - ( ) - - - - 3 - -83 : .5 () .7 ( ) . . . 14 2552 09.30 11.10 . / (.5 .) (.7 .) 1 2 3 4 -211 -84 1 ( ) 2 ( ) 3 ( ) 4 ( ) 62365643 3 - 1 - 2 5 - 2 - 3 7 - 3 - 4 3 - 3

() (), 2-3 - 150,000 - - 144,000 - 140,000 - 60,000 - 3,000 - () - ( 100 // 5 ) 28,700 - .7 (2546 50 2552 300 )3 ( ) , - 2548-2549 2 - 200,000 ( + ) - .5 () - 2544 50,000 - 2551 1 40,000 - 2551 1 20,000 -85 1234 () - 2 - 30,000 () - 20,000 ( 10,000 ) ** .5 48-49 50 .5 ()** - .5 - ( 1 ) - - () - - (1 /) - - .5 - - () - - - - // - - - 100 10,000 - - AIA - . ( 30 / ) ( 120 ) -86 1234 - 70% - - - - - - - - ( ) - - - - ( ) - 3 () - / ??? - 3 ( ) - - - - 3 () - - - - - 3 () () -87 -2-3 2 . : ., . ( ) 2-5 ( ) / ( ) / ( ) / ( ) support / / () unit ( maximize welfare ( -88 ) ) .3 ., 5 . ( .4 ) .5 . ( - - - ) ( ) checklist () ( ?) / ( / ....) . 4 ? (given ) ( .. ) / ( ? ) -89 ( ( ) (1) (2) (3) .... (1) (2) / / .... / ( .. ( ) (1) (2) ... ... !! ( 2 valid)-3 3 -93 -3-1 ( 1) 18-19 2552 /................................................................................................................................................ ...................... ...................................................................................................................................... ............................. .......................................................................................................................................................................... .. 2.. 3.. - / ( )1. 2. / .................................................................................................................................................................................................... -95 ( 2) 18-19 2552 (1) (2) ( ) .................................................................................................................................................................................................................................................................................................. / ................................................................................................ ................................................................................................................... -97 -3-2 1: 18 2552 08.30 . 15.30 . () . . .4 . - .4 . - .6 . - .. .6 . - .9 . - .9 . - -98 1: 18 2552 08.30 . 15.30 . () () . . .1 .- .7 .- .8 . - .8 . - .14 . - .14 .- .- .- . . .6 . - .9 .- .9 .- .9 .- . . .3 . - .3 . - .8 .- -99 2: 18 2552 08.30 . 15.30 . () . . .4 .- .4 .- .10 .-, . . .2 .- .11 .- . . .1 .- .2 .- .5 .- .5 . - .6 .- .6 .- .- -100 : 19 2552 08.30 . 15.30 . . . .2 . - .2 . - .4 . - .4 .- .4 . - . . .1 . - .1 . - .5 . - .5 . - .5 . - .5 . - .6 . .- . . . .- -101 -3-3 18-19 2552 /