BANGKOK, 20 April 2012 – The Kasikornbank has signed an MOU with the Japan Bank for International Cooperation (JBIC) and 11 other local Japanese banks, offering low-interest loans to help entrepreneurs who suffered from last year’s flood.
Kasikornbank Chief Executive Officer and President Banthoon Lamsam has revealed that the bank will offer 2.8 billion baht for a loan project to Japanese entrepreneurs in Thailand and Thai businesses related to Japan who were affected by the 2011 flood crisis.
A 100% loan with maximum 7 years repayment period is offered to the entrepreneurs with no interest for one year, after that they have to pay 4-5% interest per year.
According to the bank’s survey, 1,800 Japanese companies in Thailand are Kasikornbank’s customers. Three-hundred of them were affected by the flood. Mr Banthoon said most of them are still positive about investing in Thailand and will not move their production bases elsewhere.