EXIM Thailand Extends Service Availability Period of EXIM Special Zone Credit

Stocks and Financial Services Press Releases Thursday June 27, 2019 13:09
Bangkok--27 Jun--EXIM BANK

Mr. Pisit Serewiwattana, President of Export-Import Bank of Thailand (EXIM Thailand), revealed that EXIM Thailand is committed to development of products to serve as financial tools for entrepreneurs to broaden their trade opportunities, expand investment and improve production efficiency in manufacturing sectors. The Bank has recently improved features of its EXIM Special Zone Credit, a facility launched since March 2018 and well received. As of the end of March 2019, credit application amount was 1,500 million baht. Therefore, the Bank has extended the service availability period until the end of June 2020 so as to cater for entrepreneurs' diverse demand for credit facilities, and promote the country's infrastructure and industrial development, particularly in the Eastern Economic Corridor (EEC) areas.

Entrepreneurs who wish to start up, expand or improve their business facilities in respect of infrastructure and factory buildings, expand production capacity, and enhance machinery efficiency in such special zones as industrial zones, provinces in special economic zones, industrial estates, industrial parks, border provinces, and EEC areas covering Chachoengsao, Chonburi and Rayong provinces are welcome to apply for EXIM Special Zone Credit. This credit facility is available in the forms of both a long-term credit with a tenor of up to 15 years and a special interest rate of prime rate -1.75% per annum in the first three years (equal to 4.5% per annum) and a revolving credit for business liquidity enhancement (on top of the long-term loan) with a maximum credit line of 1.5 times the long-term credit amount approved and a maximum interest rate of 4.75% per annum in the first two years, with a discount of 0.25% per annum on the first-year interest rate for business operators in the EEC areas. The existing clients may apply for the revolving credit, without having to apply for the long-term credit facility.

"EXIM Thailand continues to develop products and services to better respond to Thai entrepreneurs' needs and the government policy. We are confident that our efforts will help attract Thai entrepreneurs' direct investment or joint venture with foreign investors in the government-promoted areas, including nearby provinces, which will accordingly contribute to technological and manufacturing innovation development, labor skill development, and the country's industrial and economic development as a whole," added Mr. Pisit.

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