Thailand’s Prime Minister Srettha Thavisin recently made a statement asking the country’s four largest lenders to lower interest rates in order to support small businesses and boost the economy. This move comes at a time when businesses are facing unprecedented challenges due to the ongoing economic uncertainty caused by the global pandemic. By working together with financial institutions, the government aims to stimulate economic activity and support businesses as they work towards recovery.
Thavisin highlighted the strength of Thai financial institutions and emphasized the importance of supporting businesses during these challenging times. The four largest lenders in Thailand are Bangkok Bank, Kasikornbank, Krungthaibank, and SCBX. These institutions play a crucial role in the country’s economy and have the capacity to make a significant impact by reducing interest rates for small businesses.
Lowering interest rates can help businesses access much-needed capital at more affordable rates, enabling them to navigate the current economic landscape more effectively. This proactive step by Thavisin towards supporting small businesses is a step in the right direction towards fostering a more resilient and sustainable economic environment for all stakeholders. By addressing the challenges faced by SMEs and other vulnerable groups, the government aims to create a more stable and prosperous future for Thailand’s economy.