The Government Savings Bank (GSB) has injected 150 billion baht in soft loans in collaboration with commercial banks and state banks to support Thai entrepreneurs affected by the COVID-19 pandemic, signing a memorandum of understanding online via video conference.

Dr. Chatchai Payuhanaveechai, the director of the Government Savings Bank, revealed that the government, led by Prime Minister Gen. Prayuth Chan-o-cha, Deputy Prime Minister Dr. Somkid Jatusripitak, and Finance Minister Dr. Uttama Savanayana, has implemented measures to prevent and address the COVID-19 outbreak.

This situation has impacted the daily lives of the general public. The government has continuously provided assistance, especially to those affected by the virus outbreak. On March 10, 2020, the Cabinet approved a low-interest loan (Soft Loan) measure to support entrepreneurs impacted both directly and indirectly by the COVID-19 outbreak.

The Ministry of Finance has assigned the Government Savings Bank to expedite the provision of low-interest funding, with a total project budget of 150 billion baht, to enable financial institutions to lend to entrepreneurs affected by the COVID-19 outbreak within a budget of 135 billion baht.

Additionally, the Government Savings Bank will provide direct loans of another 15 billion baht, with individual loans not exceeding 20 million baht, at an interest rate of only 2.00% per annum for a period of 2 years. Loan applications can be submitted from today until December 30, 2020.



“This project is expected to help at least 7,500 entrepreneurs maintain their business operations effectively. With the participation of financial institutions' branch networks in the project, the funds will reach customers and the economy more quickly,” said the director of the Government Savings Bank.

However, the Government Savings Bank also has measures to assist businesses affected by the situation based on their needs and repayment capabilities.

New and existing customers of the Government Savings Bank can apply for the Pracharat Thai Build or GSB SMEs Extra Liquidity loans. There are also measures to relax repayment conditions for customers affected by the economic impact of the situation.

It is anticipated that these measures will help entrepreneurs maintain their business potential and recover their operations moving forward.