Fund to loan money to student entrepreneurs
The Finance Ministry plans to establish a Venture Capital Fund for students worth Bt15 billion on December 12.
One third of the fund, or Bt5 billion, will come from the ministry’s budget, and the rest will come from government banks.
This fund will provide loans of not more than Bt3 million per person to both university and vocational students who have investment or business plans they are looking to get off the ground, Deputy Finance Minister Thanusak Lek-uthai said last week.
The loans will be provided to current university and vocational school students, and those have graduated within the past five years. The fund will also provide support for students who work on a freelance basis.
One third of the loans will be provided interest-free, with the remaining two thirds provided by the participating state banks at Minimum Retail Rate plus 2 per cent. The Thai Credit Guarantee Corporation will guarantee the loans.
The venture capital fund will focus on 10 sectors, including information technology, agriculture and industrial businesses.
“This [loan programme] is aimed at promoting young entrepreneurs in the country,” Thanusak said.
