EXIM Thailand Collaborates with EECO, GSB and TCG on Financial Package to Thai Entrepreneurs for Development of EEC Infrastructures and Industries and Driving Trade, Investment and National Development
EXIM Thailand has joined hands with Eastern Economic Corridor Office, Government Savings Bank and Thai Credit Guarantee Corporation in offering financial packages with special interest rates to entrepreneurs in the Eastern Economic Corridor to support investment in development of infrastructures and industrial sectors in linkage with the supply chains of exporters with a view to growing export and investment for the country's economic recovery and national development.
Mr. Arkhom Termpittayapaisith, Minister of Finance, presided over the signing ceremony of the Memoranda of Understanding (MOU) to collaboratively promote investment and provide financial services for development of the Eastern Economic Corridor (EEC) at the Ministry of Finance on October 27, 2021. The signees include Dr. Kanit Sangsubhan, Secretary General of the Eastern Economic Corridor Office (EECO), Mr. Vitai Ratanakorn, President and CEO of Government Savings Bank (GSB), Dr. Rak Vorrakitpokatorn, President of Export-Import Bank of Thailand (EXIM Thailand), and Mrs. Wasukarn Visansawatdi, Acting President of Thai Credit Guarantee Corporation (TCG).
EXIM Thailand President said that the collaboration represents synergy piecing together the jigsaw of how to revive Thai economy from the COVID-19 economic disruption in conjunction with national development in economic, social and environmental dimensions. The three financial institutions, i.e. GSB, TCG and EXIM Thailand will make available financial packages that would respond to demand of entrepreneurs in the EEC for their enhancement of production efficiency, factory expansion or renovation, upgrading of production process softwares, and investment for value added to goods and services. This would contribute to development of infrastructures and industries related to international trade in a way that would boost long-term competitiveness of Thai goods and services in the global market.
Under the collaboration, EXIM Thailand offers the financial package EXIM EEC Plus, comprising revolving and long-term credit lines at a minimum interest rate of 2% per annum, credit line of up to 100 million baht and maximum repayment term of 10 years, for entrepreneurs of all sizes and all industries, particularly S-curve industries and industries hit by the COVID-19 pandemic, which aim to make investment in the EEC, modify machinery, renovate factories, or upgrade digital softwares. The total credit support for the project is 1,000 million baht.
"EXIM Thailand has joined forces with both public and private entities including financial institutions to accelerate the country's forward-looking economic development, particularly in such target area as the EEC, to ensure availability of infrastructures and urbanization leveraging on high technology and modern but eco-friendly innovations, and to propel manufacturing sectors in linkage with export supply chains in response to the megatrends and sustainable development aspirations," added Dr. Rak.