Thailand’s Deputy Government Spokeswoman Sasikarn stated on the 20th that the Export-Import Bank of Thailand has launched five support measures to help Thai SMEs mitigate the impact of uncertainties in international trade.
According to reports from China News Service, the Export-Import Bank of Thailand was established in 1994 and is a policy bank wholly owned by the Thai Ministry of Finance. The bank primarily supports Thailand's import and export business, including providing import and export risk guarantees, managing export guarantee funds, and resolving loan clearances.
Sasikarn stated that approximately 3,700 Thai SMEs are expected to be affected by adjustments in the U.S. government's trade policy.
According to Sasikarn, the specific relief measures introduced by the Export-Import Bank of Thailand include: providing financial relief measures for affected importers and exporters, such as extending the debt repayment period to 365 days, providing liquidity assistance, and reducing interest rates; offering assistance and guidance for business owners, such as providing information on trade policies, their potential impact, and strategies for managing business operations under current circumstances; supporting SMEs in exploring new potential markets, with the Export-Import Bank providing loans for companies to participate in international trade exhibitions and promote exports.
The bank also offers export credit insurance, which can cover up to 75% of losses in cases where foreign buyers fail to make payments.
Sasikarn stated that these measures reflect the government's efforts to support Thai businesses to ensure they can meet the challenges of international trade.