Thailand to launch 50 billion baht SME support scheme

Thailand’s Ministry of Finance is set to endorse a new credit guarantee scheme, known as PGS 11, with a funding pool of 50 billion baht (US$1.4 billion baht). This initiative, revealed by Radaklao Intawong Suwankiri, the Deputy Government Spokesperson, is designed to bolster small and medium enterprises (SMEs) in three key industries.

Radaklao announced today that Krissada Chinavicharana, the Deputy Finance Minister, is preparing to present this financial measure to the Cabinet for approval. The programme is an integral part of the IGNITE Thailand policy, spearheaded by Prime Minister and Finance Minister Srettha Thavisin, aiming to make Thailand a regional leader across eight strategic hubs.

Krissada has directed the Government Savings Bank to prepare a package of low-interest loans to enhance liquidity or to finance upgrades and expansions for SMEs…