Thai Financial Authorities Implement Measures to Help COVID affected Businesses

BANGKOK (NNT) - The Bank of Thailand (BoT) and the Ministry of Finance have jointly implemented two key measures to help businesses cope with the economic fallout of the COVID-19 crisis.

Centre for Economic Situation Administration (CESA) spokesman Thanakorn Wangboonkongchana said credit will be provided to business as rehabilitation measures, with a total lending limit of THB250 billion. More than THB92.3 million has been approved for 30,194 applicants, with an average approval limit of THB3.1 million per application.

Another measure will allow the transfer of collateral assets up to a total of THB100 billion for debt repayment, with the business operator having the right to buy the property back later. The value of transferred assets so far is THB10.51 billion by 65 people.

Mr. Thanakorn said that, for the remedial measures and economic rehabilitation, there were 38.25 million users with cumulative spending of THB66.15 billion. The Ministry of Finance is accelerating the linking of the food delivery platform system with the "Kon La Khreung” (Let’s Go Halves) economic stimulus scheme, which is expected to be ready for use in October, to coincide with the second transfer of THB1,500.

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