The state-owned Government Savings Bank (GSB) aims to extend a further 10 billion baht worth of loans to small and medium-sized enterprise (SME) startups this year to broaden their access to financing.
The bank targets 20 million baht in loans on average to each borrower, up from 10 million in the previous batch, said Chatchai Payuhanaveechai, president and chief executive.
GSB has already extended 10 billion baht in loans as part of the SME startup loan scheme.
The bank's venture capital fund has already invested 290 million baht in 19 SME operators.
The venture capital fund is seeking approval to invest in another six SMEs, while investment in 14 more is under consideration, he said, adding that the fund investment is expected to reach 1.2 billion baht this year.
GSB and the Stock Exchange of Thailand (SET) have jointly invested 2 billion baht in three venture capital funds, with the former holding 80% in each fund and the SET owning the rest, to invest in SMEs engaged in the food, IT and financial sectors.
The first and the second funds have investment budgets of 500 million baht each, while the third has 1 billion baht.
The venture capital funds are part of the government's SME stimulus measures.
Meanwhile, GSB signed collaboration agreements with 38 Rajabhat universities across the country through three projects: career training programmes for the government's welfare and subsidy recipients; joining with local people to develop products and services; and enhancing the potential of SMEs and startups.
Under the agreements, the 38 universities will hold skills training courses for 18,000 recipients of the government's welfare and subsidy scheme.
The bank aims for 1 million welfare smart card holders who sign up for the career development scheme under the government's second phase of the welfare and subsidy programme to rise above the poverty line by 2020.
At present, Thailand's poverty line is set at annual income of 30,000 baht.
GSB oversees 4.6 million recipients of the government's aid scheme, with 3.3 million of them having registered to participate in the job training programme.
The second phase of the government's welfare and subsidy scheme is aimed at addressing the root causes of poverty, requiring recipients to sign up for skills training programmes to obtain an additional living allowance of 100-200 baht a month to buy goods at Thong Fah Pracha Rat shops, on top of the 200-300 given under the first phase.
Apart from training, the second phase was designed to allow low-income earners better access to financial resources covering basic needs, including homes, land for generating income and savings for retirement.