Exim Thailand Will Offer Special Loans to Promote Future Industries
BANGKOK (NNT) – The Export-Import Bank of Thailand (Exim Thailand) aims to offer loans, at special low interest rates and with longer grace periods, to promote Thailand’s future industries.
Exim Thailand president Rak Vorrakitpokatorn said the bank is offering a longer grace period to allow these businesses to be viable investors in future industries, requiring relatively hefty capital and posing a high risk because of uncertain demand.
He said business operators are unlikely to survive if they are offered loans at the normal interest rate of 5%, or a grace period of only one year, adding that the bank is committed to helping absorb higher investment risk in high-tech industries.
Mr Rak said this scheme has an annual interest rate of 2% for the first two years and concessional rates in subsequent years, where the government may be asked to offer an interest subsidy, or Exim Thailand may shoulder the concessional rates itself.