GSB provides soft loans to 16 commercial banks and state banks.

GSB,, Government Savings Bank provides soft loans to 16 commercial banks and state banks, to be used for SMEs, with a low interest rate of 3.5% per year for the first 2 years, to support SMEs in accessing capital. Mr. Pichai Chunhavajira, Deputy Prime Minister and Minister of Finance, and Mr. Paopum Rojanasakul, Deputy Minister of Finance, jointly presided over and witnessed the signing ceremony of the memorandum of understanding for the GSB Boost Up soft loan project for commercial banks and state banks to support SME entrepreneurs to grow and be able to overcome obstacles strongly. After SMEs had problems in repaying their old debts, they had problems in borrowing new money for working capital. When GSB provides soft loans to various banks, there is almost no interest charged, as it is only 0.01%, with a credit line of 100 billion baht, when SMEs receive additional capital. Along with many government measures to solve structural problems, the economy will gradually recover. Currently, there are entrepreneu rs interested in borrowing 70-80 billion baht. It is thought that it will not take long for the allocated amount to run out. Mr. Vitai Ratanakorn, President of the Government Savings Bank, revealed that the Government Savings Bank is helping SMEs to have liquidity by providing loans of 100 billion baht with an interest rate of 0.01 percent per year with various banks and extending loans to SMEs at an interest rate not exceeding 3.5 percent per year for the first 2 years. After that, it will be given to financial institutions, both commercial banks and state banks, considering customers based on risk. In the 3rd year, for existing customers or new customers who are not refinancing, the maximum loan per person from all financial institutions will not exceed 40 million baht per person. Therefore, he would like the banks to set conditions to relax according to government policy, using the approach of whichever bank applies for the credit line first, will receive the loan first until the 100 billion baht is used up. The GSB Boost Up soft loan project has 16 financial institutions participating in the project, including Krung Thai Bank, Bank for Agriculture and Agricultural Cooperatives, Export-Import Bank of Thailand, Small and Medium Enterprise Development Bank of Thailand, Islamic Bank of Thailand, Bangkok Bank, Kasikorn Bank, Siam Commercial Bank, Bank of Ayudhya, Thanachart Bank, Kiatnakin Bank, Land and Houses Bank, UOB Bank, ICBC (Thai), TISCO Bank, and Thai Credit Bank. You can apply for a loan at any financial institution participating in the project until December 30, 2025 or until the full amount is reached. Source: Thai News Agency