Thu, December 02, 2021

business

GSB offers one-stop financial services in a bid to boost EEC potential


Finance Minister Arkhom Termpittayapaisith presided over the signing ceremony of memorandum of understanding (MOU) on promotion of investment and financial services for Eastern Economic Corridor (EEC) development.

The signing ceremony was held at Wayuphak Meeting Room 4 of the Finance Ministry's Office of the Permanent Secretary in Bangkok on Wednesday (October 27).

Agencies participating in MOU, such as EEC Policy Committee Secretary-General Khanit Saengsuphan, Government Savings Bank (GSB) Director Vithai Rattanakorn, Export-Import Bank of Thailand (EXIM Thailand) President Dr Rak Vorrakitpokatorn and Thai Credit Guarantee Corporation (TCG) Acting President Wasukarn Visansawatdi.

Vithai said the bank is ready to promote and support entrepreneurs, investors and citizens in EEC to access funds, services and products, especially loan support and advisory.

He said the regulations of many financial services have been eased with a low-interest rate and long borrowing period:

Loans for Small and Medium Enterprises (SMEs)

GSB Smooth BIZ: The loan for use as circulating funds or investment funds in fixed assets features fixed annual interest rate of 2.99 per cent in the first two years, maximum borrowing period of ten years and maximum credit line of 20 million baht.

SME Mee Thee Mee Ngern: The loan for small SMEs to be used as circulating funds or redemption of consignment contracts by using land as collateral features maximum credit line of 70 per cent of the property’s value, no credit bureau checking and fixed annual interest rate of 5.99 per cent.

Loans for retail entrepreneurs, such as retailers, consumer products and service operators

Prachachon Sukjai: The loan for use as circulating funds or debt repayment features maximum credit line of 200,000 baht, flat annual interest rate of 1 per cent and maximum borrowing period of ten years with TCG as guarantor.

"In addition, entrepreneurs can use other loan services, such as soft loans for tourism-related SMEs, Bank of Thailand's soft loans for business rehabilitation, loans to fight Covid-19 and Im Jai loans," Vithai said.

"GSB is ready to offer a helping hand to promote investment and provide financial services related to EEC development in order to promote EEC to be an important engine to create stability in economy, society and environment, resulting in positive sentiment on the country development and economic growth."

Published : October 27, 2021

By : THE NATION