Slow uptake of B6.5bn in BoT soft loan scheme

Slow uptake of B6.5bn in BoT soft loan scheme

The Thai Credit Guarantee Corporation (TCG) recorded a low number of requests for its soft loan guarantee, totalling only 6.5 billion baht out of its earmarked 100 billion.

Entrepreneurs are taking a wait-and-see approach on whether the economy can rebound from the pandemic.

TCG acting president Wasukarn Visansawatdi believes more businesses will apply for the soft loans when they are confident the outbreak has been controlled.

The Bank of Thailand allocated soft loans worth 250 billion baht to help entrepreneurs alleviate the impact of the outbreak on their businesses.

The TCG set aside initial credit guarantees of 100 billion baht for these loans.

From April 27 to May 18, the central bank has approved soft loans totalling 8 billion baht to entrepreneurs. Of 8 billion baht, the TCG approved guarantees worth 6.5 billion and expects to approve the remaining 1.5 billion.

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