State Banks Unveil Relief Measures for Earthquake Victims

 

Thai state banks have rolled out urgent financial relief measures to help citizens and businesses affected by the recent Myanmar earthquake that impacted Thailand on 28 March 2025.

 

Following the earthquake, Deputy Prime Minister and Finance Minister Pichai Chunhavajira confirmed the stability of Thailand's economy while announcing that relief efforts were being developed through government financial institutions.

 

State financial institutions have begun announcing emergency relief measures to alleviate hardship from the disaster, enabling affected parties to reduce costs, secure working capital for damage recovery, and repair buildings, factories, and machinery so they can resume their occupations and business operations.

 

 

EXIM Bank Extends Repayment Terms

Rak Vorrakitpokatorn, managing director of the Export-Import Bank of Thailand (EXIM BANK), revealed that the bank has implemented urgent measures focused on helping clients in the export sector and related businesses throughout the supply chain, including production, transportation, and finance, to recover and maintain business continuity.

 

The key measures include:

• Extended repayment terms up to 180 days for short-term loans
• Increased credit limits by up to 20% (maximum 2 million baht)
• Principal payment holidays for up to 1 year on long-term loans
• Interest rate reduction of 0.5% in the first year
   

 

BAAC Launches Two Emergency Loan Programmes

Chatchai Sirilai, Manager of the Bank for Agriculture and Agricultural Cooperatives (BAAC), announced that the Myanmar earthquake has impacted many areas in Thailand, including the northern region, Bangkok, and surrounding provinces, causing damage to residences, property, and agricultural areas, directly affecting farmers' livelihoods.

 

In response, BAAC has expedited assistance by introducing two special loan programmes:

• Emergency loans up to 50,000 baht at 0% interest for first 6 months
• Rehabilitation loans up to 500,000 baht at reduced rates, with a total programme budget of 20 billion baht

 

These loans aim to provide farmers with access to low-interest funding for repairing or renovating homes, agricultural shelters, or machinery that has been damaged. They also provide liquidity during the recovery period until normal business operations can resume.

 

 

TCG Offers Payment Suspensions

Sitthikorn Direkasunthorn, Director and General Manager of the Thai Credit Guarantee Corporation (TCG), announced that due to earthquake damage to shops, establishments, and business operations, TCG is concerned about SMEs that may face liquidity problems.

 

The corporation has introduced emergency measures to help businesses recover quickly, with two main components:

• 6-month suspension of guarantee fees for SME customers
• 3-instalment payment holiday for businesses in debt restructuring plans 

 

 

SME D Bank Provides Payment Holidays and Capital Injections

Pichit Mitravong, Managing Director of the Small and Medium Enterprise Development Bank of Thailand (SME D Bank), stated that the bank has introduced urgent assistance measures to help SME operators resume business operations quickly, including:

• Principal and interest payment holidays for affected customers
• Emergency funding for repairs and business recovery (30,000-200,000 baht)
• No collateral required and waived fees

 

This assistance programme is voluntary, and SME operators wishing to participate can express their interest from 31 March 2025 onwards.

 

 

GHB Assists with Housing Rehabilitation

Kamonpob Weerapala, Managing Director of the Government Housing Bank (GHB), announced comprehensive measures to assist those affected by the earthquake through several programmes:

• Reduced instalments and 0% interest for initial periods
• Additional loans up to 2 million baht for home repairs
• Fast-track insurance claims processing
• Special 1% interest loans up to 100,000 baht for home renovations

 

Current GHB customers who need to renovate, repair, or purchase residential equipment can also join the "Repair-Decorate Loan Measure" with loans up to 100,000 baht at a fixed interest rate of 1.00% per annum for 3 years, with free property appraisal. Applications are open from 29 March 2025.

 

 

Krungthai Bank Implements Relief Measures

Payong Srivanich, CEO of Krungthai Bank, announced relief measures for earthquake victims, covering reduced financial burdens, instalment reductions, interest rate reductions, and liquidity support for daily living expenses and repairs of damaged homes and property.

 

The measures include:

• 75% reduction in loan instalments for 1 year
• 0% interest for 3 months on various loan types
• Tailored assistance for SME business loans
• Special terms for recovery and home repair financing

 

These measures aim to provide immediate financial relief and help earthquake victims rebuild their homes and businesses while maintaining economic stability.