Bangkok: The Ministry of Finance has announced a series of measures for state banks to provide urgent assistance in response to the ongoing Thai-Cambodian border dispute, which has significantly impacted local communities, businesses, and individuals.
According to Thai News Agency, Mr. Pichai Chunhavajira, the Minister of Finance, highlighted the adverse effects of the unrest on both the safety and economic stability of the border region. The government has recognized the urgent need to address these impacts and is committed to supporting affected individuals and businesses.
The Ministry has tasked state banks with implementing financial measures aimed at alleviating financial burdens. The Government Savings Bank, for instance, has introduced measures such as debt suspension until December 2025, retail loan assistance with favorable terms, and support for SME entrepreneurs with loans up to 5 million baht, among other initiatives.
The Bank for Agriculture and Agricultural Cooperatives (BAAC) is offering emergency expense loans and projects aimed at restoring quality of life, with specific terms designed to enhance liquidity and support necessary repairs and investments.
Meanwhile, the Government Housing Bank (GHB) has allocated a project budget of 200 million baht to mitigate the impact on its customers, offering significantly reduced interest rates in cases of severe property damage or personal injury.
The Small and Medium Enterprise Development Bank of Thailand (SME Bank) is providing measures to support SME entrepreneurs through loan adjustments and refinancing options that aim to sustain businesses during the crisis.
The Export-Import Bank of Thailand (EXIM) has outlined relief measures, including extending debt repayment periods, reducing interest rates, and enhancing liquidity to support the opening of new markets.
Furthermore, the Islamic Bank of Thailand (IBOT) introduced the ‘We Won’t Leave You Behind’ initiative, offering credit options to repair and restore homes and businesses, with profit rates tailored to the financial needs of affected individuals.
Lastly, the Small Industry Credit Guarantee Corporation (TCG) has implemented measures to assist existing customers and enhance liquidity through the PGS11 credit guarantee project, aiming to support SMEs in maintaining operational stability.
The Ministry of Finance underscores its commitment to mitigating the impact of the border conflict by ensuring accessible financial support for those affected, facilitating the rehabilitation of assets, and enabling businesses to resume operations efficiently.