Tuesday, November 12, 2019

Exim Thailand cuts interest rates

Nov 09. 2019
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By THE NATION

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The Export-Import Bank of Thailand (Exim Thailand) has announced a prime interest cut to 6 per cent per annum down from 6.125 per cent to support the government policy to help Thai entrepreneurs, especially SMEs, reduce international trade and investment costs.

The cut takes effect on November 11

The rate cut is in response to the government policy to help Thai entrepreneurs as well as drive Thai export growth amid a decline in world trade resulting from various trade barriers and the trade war between the US and China.

The bank’s president Pisit Serewiwattana revealed said that, as a state-owned specialised financial institution with a mission to support Thailand’s exports, imports and investment, Exim Thailand welcomed the Monetary Policy Committee (MPC)’s recent rate cut policy and recognised the need to help facilitate Thai entrepreneurs' business.

"EXIM Thailand is ready to work in collaboration with both the public and private sectors to support Thai entrepreneurs and SMEs in particular so that they can start up or expand their international trade and investment without interruption amid the current global economic uncertainties and continue to drive Thai economic growth and development,” Pisit added.

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