Finance Ministry set to seek Cabinet approval for 50 billion baht SME loan guarantees


March 13, 2024

The Finance Ministry will soon call on the Cabinet to approve a new round of credit guarantees worth 50 billion baht for SMEs, a government spokesperson said.

Radklao Inthawong Suwankiri, deputy government spokesperson, said on Wednesday that Deputy Finance Minister Kritsada Chinavicharana will soon ask the Cabinet to consider approving the 11th phase of the Portfolio Guarantee Scheme (PGS 11).

Radklao said the 50-billion-baht project will empower the Thai Credit Guarantee Corporation (TCGC) to guarantee loans for SMEs in line with Prime Minister Srettha Thavisin’s “Ignite Thailand” policy. Srettha also holds the Finance portfolio.

The new phase of loan guarantees is aimed at supporting SMEs in the drive to turn Thailand into a hub in eight industries.

She said PGS 10 saw TCGC provide 53.25 billion baht worth of guarantees for SMEs, so they could obtain loans to operate.

Radklao said Kritsada has also asked the Government Savings Bank to prepare soft loan packages to boost the liquidity of SMEs in tourism, wellness and medical as well as food-processing industries.

Source: The Nation