The central bank is set to roll out 300 billion baht in soft loans as financial assistance for SMEs and individual business operators hit by the recent flooding in early March.
Commercial banks will be slapped with a higher interest rate if their loan issuances are not in compliance with the regulations.
The Bank of Thailand is set to issue 300 billion baht in soft loans to provide financial assistance for victims of the recent floods in accordance with an executive loan decree. The period of the loan program is five years.
Of the total amount, 210 billion baht is being funded by the central bank, while the rest will come from financial institutions’ contributions.
Bank of Thailand Assistant Governor for the Financial Markets Operations Group, Pongpen Ruengvirayudh expects the list of provinces designated as flood disaster zones to be announced by the Finance Ministry today. Financial institutions have been advised to notify the central bank of the loan amount they will require within two weeks of the announcement.
She said the funds will be transferred to the banks within three days of the central bank’s receiving of their requests and that they can begin offering the loans to individual clients in early March.
Eligible borrowers must be SME companies or individual business operators that were affected by the recent flooding. An SME borrower will be entitled to a maximum 30 million baht loan, while loans for individuals are limited to one million baht.
The Bank of Thailand will charge an annual interest rate of 0.01 percent from financial institutions, while the financial institutions are allowed to charge borrowers an interest rate of no more than three percent.
Commercial banks will be liable to paying an interest rate of ten percent as a penalty should they be found to be issuing loans that are not in compliance with the central bank’s regulations. They will also be solely responsible for any risks or liabilities involved in issuing such loans.
http://tourism9.cm/ http://vkins.com/
没有评论:
发表评论