Thai EXIM Bank offers soft loan to help exporters

BANGKOK, February 29 (TNA) - The state-run Export-Import Bank of Thailand (EXIM Bank) is offering soft loans, amounting 15 billion baht, to exporters in a bid to spur Thai exports. EXIM Bank Senior Executive Vice President Rak Vorrakitpokatorn told journalists on February 28 that the measure is aimed to help boost Thai exports this year to grow by 5 per cent year-on-year in line with the government’s target. Rak elaborated that the soft loan carries a special interest rate of 3.99 per cent annually and his bank will offer a maximum of 20 million baht to each borrower. Rak said some 300 business operators, most of whom are expected to run small and medium-sized enterprises (SMEs) in 10 industrial clusters targeted to be promoted by the Thai government, expressed their interest in borrowing under the programme during the recently-held Money Expo with their combined borrowing sum of up to about 3 billion baht. Admitting that Thai exports to Europe and the United States have been slowdowned, the EXIM Bank senior executive vice president suggested that the country now focus on cross-border trade and exports to neighbouring countries, including Cambodia, Laos, Vietnam and Myanmar, because of their positive growth signs. Besides, Thai business operators should turn to focus on investment in the ASEAN Community (AC) and in Thai government-sponsored special economic zones (SEZs) along the border, rather than in Europe and the United States. (TNA)