“Ministry of Finance” gives green light to 5,000 million 'IGNITE THAILAND' loan to support SMEs in 3 sectors.

After the Cabinet (Cabinet) meeting to approve the Ministry of Finance's proposal for low-interest loan measures amounting to 1,150 million baht from the 2024 budget, Mr. Setha Tavisin said. To support SME entrepreneurs, including social enterprise groups, to access financial resources from financial institutions by going through the Government Savings Bank.

Additionally, a 7,125 million baht Budget Portfolio Guarantee Scheme (PGS) has been approved for Phase 11 by the Small Business Credit Guarantee Corporation (TCG) to support the financial viability of SMEs.

Deputy Minister of Finance, Mr. Phapham Rojanasakul revealed that the low-interest lending initiative by the Government Savings Bank is “Ignite Thailand”. To support funds in 3 target industry groups: 1. Tourism Center (Tourism Center), 2. Medical and Health Center (Health and Medical Center), and 3. Food Center (Agriculture and Food Center), total amount 5,000 million baht, continued amount max. The loan amount is 10 million baht, the loan period does not exceed 10 years, the interest starts at 2.5% per annum in the first 2 years, and the principal is not repaid for 6 months.

In addition, there is a loan guarantee mechanism through the Small Business Credit Guarantee Corporation (TCG), Portfolio Guarantee Scheme (PGS) Phase 11, with a maximum loan limit of 40 million baht per person, totaling 50,000 million baht for loan applicants to obtain project loans sufficient for their business needs, for SMEs. A complete program to help you access financial resources. No guarantee fee for first 2 years and only 0.75% per annum for 3-4 years.

The IGNITE THAILAND loan program will help support targeted industries. By using mechanisms on both sides for easy access to financial resources and low cost. Sufficient to develop business potential is a mechanism that drives the economy and elevates Thailand to a world-class industrial city center.