By The Nation
The move will also promote the country's infrastructure and industrial development, particularly in the Eastern Economic Corridor (EEC) areas, the bank's president Pisit Serewiwattana said in a press release on Thursday.
The bank has recently improved features of its EXIM Special Zone Credit, a facility launched in March 2018. As of the end of March 2019, credit application amount was Bt1.5 billion.
The bank has extended the service availability period until the end of June 2020 to cater to entrepreneurs' diverse demand for credit facilities, and promote the country's infrastructure and industrial development, particularly in the Eastern Economic Corridor (EEC) areas.
Entrepreneurs who wish to start up, expand or improve their business facilities in respect of infrastructure and factory buildings, expand production capacity, and enhance machinery efficiency in such special zones as industrial zones, provinces in special economic zones, industrial estates, industrial parks, border provinces, and EEC areas covering Chachoengsao, Chonburi and Rayong provinces, are welcome to apply for EXIM Special Zone Credit.
This credit facility is available in the forms of both a long-term credit with a tenor of up to 15 years and a special interest rate of prime rate -1.75 per cent per annum in the first three years (equal to 4.5 per cent per annum) and a revolving credit for business liquidity enhancement (on top of the long-term loan) with a maximum credit line of 1.5 times the long-term credit amount approved and a maximum interest rate of 4.75 per cent per annum in the first two years, with a discount of 0.25 per cent per annum on the first-year interest rate for business operators in the EEC areas.
Existing clients may apply for the revolving credit, without having to apply for the long-term credit facility, he said.