facebook_pixel
Finance

EXIM Thailand Launches Measures to Help Clients Affected by Southern Floods

EXIM Thailand Launches Measures to Help Clients Affected by Southern Floods
Danny Gill

Export-Import Bank of Thailand (EXIM Thailand) President Mr. Pisit Serewiwattana said that the bank has launched relief measures to help clients directly and indirectly affected by floods in the South of Thailand.

Those who live or whose business establishments are located in the areas announced as flood zones are eligible for such relief measures as extension of export bills repayment period of up to 360 days, interest rate reduction for revolving export credit for the period of 6 months followed by a 0.5% interest reduction from normal rate, debt suspension for short- or long-term loan up to one year. For pre- and post-shipment working capital loan customers indirectly stricken by the floods as a result of the delayed production following late delivery of goods by floods-damaged suppliers, an extension of promissory notes repayment schedule will be considered with a maximum overdue period of 360 days.

Mr. Pisit further elaborated that in addition to the support mentioned, the Bank will donate 4,500 relief bags worth one million baht as well as setting up a flood relief center at the Bank’s headquarters. The Bank is now inviting its staff members and the general public to help donate food and necessity items for the flood-stricken population in the South through the Royal Thai Navy.

“EXIM Thailand is ready to help alleviate the plight of our fellow Southerners and promote business continuation among the Thai enterprises through various urgent relief measures targeted for those directly and indirectly affected by the Southern floods. We will also be pleased to extend further assistance as appropriate on a case by case basis, hoping to become a meaningful part of the country’s efforts to reduce the hardships of the Thai people and business sector while helping them to speedily return to their normal course of life,” said Mr. Pisit.

Finance
Danny Gill

Danny is currently a Contributing Writer for Airfreight Logistics and Logistics Manager (LM) and is quite the foodie. He’s always on the hunt for new and exciting dishes to sample, and is never one to back down from a spicy challenge. His travels have taken him around the world, and he’s been able to experience many different cultures (and food).

More in Finance

EXIM Thailand Organizes Scholarship Project for Needy Children

Danny GillSeptember 27, 2017