Export-Import BOT to assist entrepreneurs regarding European crisis

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BANGKOK, 9 July 2012 – Export-Import Bank of Thailand, or EXIM Thailand, said it is prepared to support and assist Thai entrepreneurs if the Euro-zone debt crisis affects their businesses

According to President of Export-Import Bank of Thailand Kanit Sukonthaman, the EXIM is ready to support Thai exporters who have been or might be affected by the European economic crisis. Currently, the bank is ready to provide up to 100 billion baht to enhance the import-export sector’s liquidity, as well as another of 40 billion baht in terms of export credit guarantee.

The president added that the EXIM will take special care of SME businesses by offering loans at the minimum interest rate of only 5 percent ; and for shipments to Europe, the bank will charge a premium equivalent to 0.3-0.7 percent of the shipment value. There are approximately 26,000 exporters in Thailand at present.

However, the bank has not received any request for assistance so far, given the European crisis is not expected to affect the Thai exporters in the short run, but if it drags on, the sector will definitly be impacted directly or indirectly.