Govt mulling property fund to raise loan money for tourism operators
The Finance Ministry and state agencies are discussing the possibility of setting up a property fund to support loans for tourism and airline operators to combat the impact of Covid-19, said a Government House source.
The discussion concerns the size of the fund and related regulations as well as potential demand from investors, the source added.
Business operators may be allowed to use their assets, such as hotels, as collateral to back their loans from the fund, said the source.
Thai tourism operators are struggling with the Covid-19 fallout and absence of foreign tourists, with some finding it difficult to access bank loans.
To attract investors, the fund should offer a higher interest rate than banks' deposit rate, the source said.
