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Bt100 billion set aside to help small tourism operators hit by Covid-19

Jul 13. 2020
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The Government Savings Bank (GSB) has earmarked Bt100 billion for soft loans to small and medium enterprises in the tourism sector, Finance Minister Uttama Savanayana said.

This move is in line with Deputy Prime Minister Somkid Jatusripitak’s policy that banks offer more loans to small as well as new businesses that have been affected by the Covid-19 outbreak.

This amount will be lent to commercial banks at an annual interest rate of 0.01 per cent, so they can lend the money to SMEs at no more than 2 per cent per year.

GSB president Vithai Ratanakorn said this money will be spent on those who have failed to access other fund sources and will be limited at Bt50 million per bank. He added that GSB is rushing to seek approval for the Bt100 billion soft loan from its board and the Finance Ministry.

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