House of Representatives, The government approves a budget of 7,125 million baht to pay fees to help SMEs to TCG as guarantees through PGS 11, in the amount of 50 billion baht. Mr. Chai Watcharong, Spokesman of the Prime Minister's Office Revealed that the meeting The Cabinet has approved measures to assist small and medium-sized enterprises (SMEs) through the PGS 11 loan guarantee project, using a budget of 7,125 million baht to pay assistance in the form of a guarantee fee. Focus on target industry groups And new SMEs entrepreneurs have never received credit in the financial institution system in the first place. The Cabinet assigned TCG joins with financial institutions participating in the project to make use of the database of SMEs entrepreneurs in various dimensions from the PGS project that has been in operation continuously in the past period. By improving the Credit Scoring Model system and Risk-based Pricing Model in a concrete way. Helps setting fees and guarantee conditions consistent with each customer's risk profile. Consideration and approval of loan guarantees on a customer-by-customer basis The PGS 11 project aims to support the vision of the IGNITE THAILAND government in 8 areas, including tourism. Medical and health, food, aviation, regional transportation Future automotive production The digital economy and finance hope to be a mechanism to help strengthen vulnerable SME entrepreneurs. and SMEs entrepreneurs who conduct businesses supporting society and the environment The PGS 11 project sets a guarantee limit of 50,000 million baht. Guarantee format - Portfolio Guarantee Scheme / Package Guarantee Scheme. Period for accepting loan guarantee applications - from the Cabinet's approval until December 30, 2025. Loan guarantee not exceeding 10 years. Guarantee limit not exceeding 10 years. More than 40 million baht per person, including all financial institutions By applying for a minimum guarantee of not less than 10,000 baht at a time, the average loan guarantee fee is not more than 1.758 pe rcent per year, with the government paying on behalf of SMEs in each sub-project as appropriate. It is expected that there will be at least 76,900 more SME entrepreneurs receiving loans (an average of 650,000 baht per entrepreneur), creating credit in the system of not less than 60,000 million baht. Source: Thai News Agency