KBank, JBIC, Japanese banks offer loans
Kasikornbank, in cooperation with Japan Bank for International Cooperation (JBIC) and 11 Japanese banks, is offering Bt2.8 billion soft loans for flood-affected Thai and Japanese companies
KBank CEO and President Banthoon Lamsam said that the loans would be extended with a 7-year term. Borrowers will be charged 4-5 per cent per annum, with a grace period in the first year.
Potential borrowers are Thailand-based Japanese businesses or companies that owned by Japanese nationals, whose parent companies in Japan have registered capital below one billion yen. Thai businesses that purchase goods from Japanese operators and/or that manufacture goods supplied to Japanese operators may also qualify.
Eligible for the loans are those whose workplaces were directly or indirectly affected by floods.
JBIC contributed 60 per cent of the amount and the rest by 11 Japanese banks - Bank of Tokyo-Mitsubishi UFJ, Hokuto Bank, Shonai Bank, Toho Bank, Hachijuni Bank, Shizuoka Bank, Bank of Kyoto, Chugoku Bank, Hiroshima Bank, Bank of Fukuoka and Higo Bank.
Last year's floods caused economic losses of Bt1.4 trillion. Affected customers of KBank included 1,800 Japanese companies. In Thailand, Japanese SMEs operate in Thailand through 3,200 firms.
