Bank of Thailand Relaxes Debt Assistance Measures

BANGKOK(NNT) - The Bank of Thailand (BoT) has relaxed its debt assistance measures to help entrepreneurs and individual borrowers during the prolonged COVID-19 pandemic.

BoT senior director of Regulatory Department II, Suwannee Jatsadasak, said the Financial Institution Policy Committee approved additional debt aid measures and adjusted other rules to respond better to the demands of small and medium-sized enterprises (SMEs) and individual borrowers.

She said the easing is in response to the continued outbreak and extensions of government lockdown measures to contain new infections. The BoT adjusted its soft loan scheme to support liquidity for both existing and new SME borrowers by expanding their credit lines.

According to Ms. Suwannee, the central bank increased the maximum credit line from 20 million baht to 50 million baht per borrower for loans from any financial institution for new SME borrowers. For existing SME borrowers, the bank will maintain the previous rule, allowing a creditor to grant an additional credit line of up to 30% of the existing credit line, but no more than 150 million baht.