EXIM Bank helps buffer impact of Covid-19 for exporters
Customers of the Export-Import Bank of Thailand have started seeing a delay in payments from importers, who are suffering from the Covid-19 fallout, the bank’s president Pisit Serewiwattana said.
The outbreak has disrupted the receiving of orders by importers and the distribution of goods.
The bank is helping ease its clients’ financial problems by extending the period of export guarantee and debt suspension.
He suggested that exporters purchase export credit insurance facilities against the risk of non-payment by importers. He also said that subscribing to the insurance will help cover exporters’ costs and ensure they get payment from their regular foreign customers.
He added that despite the outbreak, the bank’s export credit lending has continued growing, with up to Bt20 billion given in loans since the beginning of the year. This has increased its outstanding loans to Bt130 billion.
He said he expects new loans worth another Bt15 billion in the second half.
