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Thai cabinet earmarks B2 billion restaurant aid

Thai cabinet earmarks B2 billion restaurant aid

THAILAND: The Cabinet confirmed yesterday (July 7) it has earmarked B2 billion to help restaurants affected by COVID-19 regulations which prevent patrons from dining on the premises.

CoronavirusCOVID-19
By National News Bureau of Thailand

Thursday 8 July 2021, 11:41AM


It is expected that up to 40,000 businesses will seek to borrow an average of about B50,000 each. Photo: Varuth Hirunyatheb / Bangkok Post

It is expected that up to 40,000 businesses will seek to borrow an average of about B50,000 each. Photo: Varuth Hirunyatheb / Bangkok Post

According to Finance Minister Arkhom Termpittayapaisith, the new remedy, called “Im Jai Loan”, will be limited to a maximum of B100,000 per applicant and will apply to established food and beverage businesses, such as restaurants, eateries and stalls in department store food courts.

The loan will be granted by the Government Savings Bank at an annual interest rate of 3.99% for up to five years, with borrowers being given a payment respite for the first six months. The measure applies to businesses in Greater Bangkok and border provinces in the South.

It is expected that up to 40,000 businesses will seek to borrow an average of about B50,000 each. The government already has a similar measure for roadside food vendors, who can borrow up to B10,000 from the Government Savings Bank at a monthly interest of 0.35%.

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