ID :
149237
Tue, 11/09/2010 - 10:15
Auther :
Shortlink :
http://m.oananews.org//node/149237
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EXIM Bank issues 5 measures to help SME exporters
BANGKOK, Nov 9 – To ease the impact of Thailand's stronger baht on small- and medium-size enterprise (SME) exporters, the Export and Import Bank of Thailand has come up with five measures to help reduce their burdens, according to EXIM Bank president Kanit Sukonthaman.
Included are allowing SME exporters to make forward contracts in amounts up to Bt15 million baht at a special exchange rate, having the Small Business Credit Guarantee Corporation guarantee a forward contract made by SME exporters, and giving SME exporters a packing credit in an amount not exceeding 10 per cent of the 3-month export value at minimum loan rate (MLR) -1.5 per cent for first two years.
SME exporters will be also granted no more than Bt5 million in medium-term loans with 5-year repayment periods and the same interest rate and conditions with those of the packing credit under the program to boost exporters’ liquidity.
In addition, the exporters are able to seek US dollar-denominated loans for working capital of up to $300,000 at Libor+3 per cent.
Mr Kanit said the forward contract and baht and US dollar-term loans are normal services already provided by EXIM Bank, but currently the bank has expanded its cooperation with state agencies and private companies concerned to ensure its services are accessible to SME exporters with growth potential, who are affected by the baht surge.
The stronger baht-hit sectors include agriculture, farm-related output, seafood, frozen or cooked poultry, handcrafts and furniture.
He said the bank had streamlined the loan approval process as a loan in amounts less than Bt10 million would be approved within three days of receiving complete documents. (MCOT online news)
Included are allowing SME exporters to make forward contracts in amounts up to Bt15 million baht at a special exchange rate, having the Small Business Credit Guarantee Corporation guarantee a forward contract made by SME exporters, and giving SME exporters a packing credit in an amount not exceeding 10 per cent of the 3-month export value at minimum loan rate (MLR) -1.5 per cent for first two years.
SME exporters will be also granted no more than Bt5 million in medium-term loans with 5-year repayment periods and the same interest rate and conditions with those of the packing credit under the program to boost exporters’ liquidity.
In addition, the exporters are able to seek US dollar-denominated loans for working capital of up to $300,000 at Libor+3 per cent.
Mr Kanit said the forward contract and baht and US dollar-term loans are normal services already provided by EXIM Bank, but currently the bank has expanded its cooperation with state agencies and private companies concerned to ensure its services are accessible to SME exporters with growth potential, who are affected by the baht surge.
The stronger baht-hit sectors include agriculture, farm-related output, seafood, frozen or cooked poultry, handcrafts and furniture.
He said the bank had streamlined the loan approval process as a loan in amounts less than Bt10 million would be approved within three days of receiving complete documents. (MCOT online news)
