EXIM Thailand launches relief schemes for Thai CLMV businesses
The Export-Import Bank of Thailand has thrown a credit lifeline to small Thai businesses in CLMV countries that have been hit by the pandemic as well as the crisis in Myanmar.
EXIM Thailand is offering the SMEs a 3-year credit facility of up to THB20 million at 3.99 per cent interest per annum. Meanwhile, its clients in the Myanmar market can get principal debt suspension of up to 12 months for long-term loans.
Thai exports to CLMV (Cambodia, Laos, Myanmar and Vietnam) fell more than 11 per cent in 2020 and continue to suffer this year amid resurgent Covid-19 and tensions in Myanmar, said EXIM Thailand president Rak Vorrakitpokatorn.
As a result, Thai SMEs trading in the CLMV need swift liquidity injections to overcome the short-term challenges they face.
The bank said it currently has over 200 clients in Myanmar with total credit of around THB5.3 billion.
Businesses can apply for the EXIM CLMV Comfort Credit Scheme until November 30 via the bank’s website: www.exim.go.th.
Businesses engaged with Myanmar can apply for principal suspension for up to 12 months for long-term loans, or roll-over of promissory notes for up to 180 days, via bank staff until September 30.
EXIM Thailand also offers advice to Thai exporters and investors in Myanmar via its hotline at (02) 271 3700 ext 3009.
