The Thai-Danish Chamber of Commerce has just released a news update regarding a new loan facility from Exim Thailand aimed at companies exporting from Thailand to neighboring countries. The update reads:
“The Export-Import Bank of Thailand (Exim Thailand) has rolled out aid measures for small and medium-sized enterprises doing business in Cambodia, Laos, Myanmar, and Vietnam (CLMV) to mitigate the financial impact of Covid-19 outbreaks and political chaos in Myanmar.
Rak Vorrakitpokatorn, the bank’s president, said the aid measures include soft loans and a principal repayment suspension for 12 months. The bank is also to be used as working capital, up to 20 million baht each, with an interest rate of 3.99% per year and a three-year repayment period.
Interested entrepreneurs can apply for the loan until Nov 30 through the bank’s website at www.exim.go.th, or find more information at its branches.
Exim Bank also offers an export credit facility to Thai entrepreneurs in Myanmar, allowing them to place purchase orders as collateral in the form of promissory notes with the bank, which will help pay for shipments to exporters so they can use the money as working capital.
Mr. Rak said given the hardships caused by Covid-19, importers may encounter financial problems. To reduce the knock-on effect to Thai exporters, Exim Bank has agreed to extend the settlement period of the promissory notes for another 180 days.
Interested exporters can apply for this measure until 30 September.”
Find more news and information about the Danish-Thai Chamber of Commerce here