State-owned bank giving out soft loans to Thai SMEs

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BANGKOK – The Government Savings Bank (GSB) has been offering soft loans to small and medium enterprises (SMEs), in a bid to help them improve liquidity.

Chatchai Payuhanaveechai, Chief Executive Officer and President of the GSB, said the bank had so far issued low-interest loans to 9,700 businesses, with an average loan of 5.1 million baht per business.

He said it was the second phase of the bank’s SME assistance project launched earlier this year. The main objective of the project is to improve the liquidity of Thai SMEs as well as allow them to expand their businesses.

Other financial institutions joining the project are Bangkok Bank, Siam Commercial Bank, Kasikorn Bank, and the SME bank.