Thailand approves US$2.8 billion soft loan scheme for commercial banks

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BANGKOK: Thailand's cabinet on Tuesday (Jul 16) approved a 100 billion-baht (US$2.8 billion) soft loan scheme where funds would be lent to commercial banks so they could on-lend to borrowers at below-market rates, a deputy finance minister said.

The programme is aimed at helping smaller businesses obtain loans, Paopoom Rojanasakul told reporters after a cabinet meeting.

Srettha has repeatedly pressed the central bank to cut rates to help the economy.

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Category: EconomyBusiness

Markets: SingaporeThailand

Topics: Srettha Minister Us$2 Bank Rates Cent Prime Thailand Rate Approves Banks

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-16 @ 14:04:00 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 372 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 24 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 21652277

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