Bangkok--20 Apr--EXIM BANK
Mr. Pisit Serewiwattana, President of Export-Import Bank of Thailand (EXIM Thailand), revealed that EXIM Thailand has responded to the policy of the Bank of Thailand (BOT) by providing new loans that are soft loans to SMEs having group’s credit lines with the Bank not exceeding 500 million baht for 2 years. The additional credit lines will be offered at a special interest rate of 2% per annum, with an interest grace period in the first 6 months to more than 2,500 eligible SME clients of EXIM Thailand with outstanding credit of 20,000 million baht. Maximum credit line is 20% of outstanding credit of each respective borrower as at year-end 2019. This will help enhance working capital for these clients by a total of 4,000 million baht. The credit facility is available from now until December 31, 2020.
EXIM Thailand’s soft loan schemes to assist entrepreneurs amid the COVID-19 economic disruption can be summarized as below:
- 2-year short-term credit facility for clients having group’s credit line of 500 million baht or below with the Bank, each with a maximum credit line of 20% of outstanding debt as at December 31, 2019 at a special interest rate of 2% per annum, free! interest for 6 months and no charge for front-end fee, cancellation fee, commitment fee and prepayment fee for use as revolving fund in export- and investment-related businesses hit directly and indirectly by COVID-19.
- 7-year term credit facility for clients and general entrepreneurs
A maximum credit line of 20 million baht at a special interest rate of 2% per annum in the 1st and 2nd years for use as revolving fund in export- and investment-related businesses hit directly and indirectly by COVID-19.A maximum credit line of 100 million baht at a special interest rate of 2% per annum in the 1st and 2nd years for use to purchase or modify machinery and equipment or renovation of factories.
- EXIM Loan for Employment Credit which offers a maximum credit line of up to 15 million baht per business entity with a minimum interest rate of 3% per annum for a 7-year maximum loan period.
EXIM Thailand has also opened a phone-in financial advisory clinic for export- and investment-related businesses affected by COVID-19 via Tel. 0 2617 2111 ext. 3510-2.
“Besides suspension of principal and interest debt payment for 6 months for our affected clients, EXIM Thailand has responded to the government policy to ease the hardship of export- and investment-related businesses amid the COVID-19 contagion by boosting liquidity for the Bank’s clients and general entrepreneurs of all sizes and in all industrial sectors, including SMEs. The assistance for the business sectors will in turn support the labor force and the low-income earners in the society so that all sectors of the economy can weather this difficult situation together,” added Mr. Pisit.