21 May, 2010
B10 bn fund being sought to help SMEs
The Finance Ministry plans to increase assistance funding for SMEs affected by political unrest from 5 billion baht to 10 billion baht, Deputy Finance Minister Pradit Phattaraprasit said on Friday.
The ministry is considering expanding assistance to businesses outside the Ratchaprasong area who were also affected by the political turmoil, he said.
Conditions and regulations would be proposed to the cabinet for consideration on Tuesday, he said.
He wa speaking after chairing a meeting with representatives of govrnment agencies and protest-hit businesses in Ratchaprasong. They discussed rehabilitation measures for businesses and individuals suffering from the prolonged political turmoil.
Managers of the Small and Medium Enterprise Development Bank of Thailand (SME Bank) and of the Fiscal Policy Office also attended the meeting.
The measures discussed were to offer SME Bank credit to entrepreneurs with a Bt5 billion limit, already approved. Money will be lent to businesses affected by the violent protests, with a maximum of 3 million baht each. The first year of the loan would be interest free, said Mr Pradit.
After that period, a minus 3 per cent MLR interest rate will be considered.
If an SME's account is listed already with the national credit bureau, they will be approved extra credit only if guaranteed by the department store at which he or she has a retail business.
Otherwise the consideration of the credit offer will be on a case by case basis, he said.
Other measures are those discussed by Finance Minister Korn Chatikavanij on Thursday and include tax measures to reduce entrepreneurs' and individuals' burdens.
The Ministry will also consider other assistance schemes, including direct cash payment to those affected by the political chaos.
The discussion's conclusions will be proposed to the cabinet for consideration next Tuesday.
Source: Bangkok Post
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The ministry is considering expanding assistance to businesses outside the Ratchaprasong area who were also affected by the political turmoil, he said.
Conditions and regulations would be proposed to the cabinet for consideration on Tuesday, he said.
He wa speaking after chairing a meeting with representatives of govrnment agencies and protest-hit businesses in Ratchaprasong. They discussed rehabilitation measures for businesses and individuals suffering from the prolonged political turmoil.
Managers of the Small and Medium Enterprise Development Bank of Thailand (SME Bank) and of the Fiscal Policy Office also attended the meeting.
The measures discussed were to offer SME Bank credit to entrepreneurs with a Bt5 billion limit, already approved. Money will be lent to businesses affected by the violent protests, with a maximum of 3 million baht each. The first year of the loan would be interest free, said Mr Pradit.
After that period, a minus 3 per cent MLR interest rate will be considered.
If an SME's account is listed already with the national credit bureau, they will be approved extra credit only if guaranteed by the department store at which he or she has a retail business.
Otherwise the consideration of the credit offer will be on a case by case basis, he said.
Other measures are those discussed by Finance Minister Korn Chatikavanij on Thursday and include tax measures to reduce entrepreneurs' and individuals' burdens.
The Ministry will also consider other assistance schemes, including direct cash payment to those affected by the political chaos.
The discussion's conclusions will be proposed to the cabinet for consideration next Tuesday.
Source: Bangkok Post
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