Bangkok: EXIM Bank is preparing a billion-baht soft loan to revive SMEs affected by flooding in the South.
According to Thai News Agency, Mr. Chalat Rattanabunnithi, President of EXIM Thailand, revealed that in response to the flooding in several southern provinces, EXIM Thailand is providing assistance to SMEs and Thai exporters. Following the floodwaters, a team will begin surveying the damage to Thai SMEs and exporters in the area. Production will likely remain at full capacity within the six months following the floods. Additional measures are being implemented to extend loans and adjust the loan base for repairs, construction, and improvement. This includes addressing credit bureau issues and extending payment terms and repayment periods to alleviate loan concerns for affected exporters.
For those facing debts resulting from natural disasters, soft loans of 200-300 million baht from the Government Savings Bank, combined with EXIM Bank’s capital, totaling 1 billion baht, will be available. Low interest loans of 1.99%, with repayment periods dependent on industry type, will be available to assist affected factories. Currently, we are working to develop assistance packages for SMEs. Affected export factories admit that they are not concerned about the potential for bad debts from the floods. They are primarily focused on helping them recover and help each other get back on track.