Connect with us


Thai cabinet approves 350 billion baht Aid for COVID-hit Businesses

Thailand unveiled new measures to help small and medium COVID-hit businesses in the tourism industry hit by a liquidity crunch.



The Thai cabinet has approved assistance worth 350 billion baht($11 Billion) to help businesses affected by COVID-19 with soft loans and asset warehousing.

Finance Minister Arkhom Termpittayapaisith said soft loans would amount to 250 billion baht and help the businesses that had good foundations but were hit by COVID-19.

The loans would enable affected operators to maintain their business and employment, as a delay in full reopening to foreign visitors may push economic recovery to 2022.

The government will extend credit for the so-called “asset warehousing program” allowing COVID-hit businesses such as hotel operators from having to liquidate distressed assets.

A lifeline to COVID-hit Businesses

The rest 100-billion-baht assistance will happen in the form of asset warehousing. Under this measure, indebted operators can transfer collateral to repay debts and reserve their right to buy the assets back later.

Both measures will be implemented for two years and the cabinet can extend them for another year if necessary and there is enough money to do so, the finance minister said. (TNA)

“We’re coming toward the final stretch of Covid-19. These measures could create opportunities to as many as 60,000 businesses and support 800,000 jobs,” Deputy Prime Minister Supattanapong Punmeechaow said.

This week’s Cabinet resolution also approved the 3rd phase of the “We Travel Together” campaign, adding 2 million more people to the existing eligible pool.

Click to comment

Leave a Reply


Fitch Affirms Thailand’s rating at ‘BBB+’ with a Stable Outlook

Fitch forecasts Thailand’s tourism-dependent economy will recover only modestly, by 1.8% in 2021 after a sharp 6.1% contraction in 2020.



Don Mueang Bangkok domestic airport
Empty seats tagged with social distancing await passengers in Don Mueang Bangkok domestic airport

Fitch Ratings has affirmed Thailand’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB+’ with a Stable Outlook.

Continue Reading


China’s new three-child policy highlights risks of aging across emerging Asia

Thailand’s (Baa1 stable) total dependency ratio is set to jump nine percentage points to 51% by 2030 – a faster increase than China’s – which will pressure public and private savings through higher taxes and social spending, reducing innovation and productivity gains.



Street vendor in Bangkok

Population aging in China (A1 stable) and other emerging markets in Asia will hurt economic growth, competitiveness and fiscal revenue, unless productivity gains accelerate, according to a new report by Moody’s Investors Service.

Continue Reading

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 14,106 other subscribers