Thai Prime Minister Calls on Largest Banks to Lower Interest Rates for Small Businesses Amid Economic Uncertainty

Thailand’s Prime Minister Srettha Thavisin recently made a statement calling on the country’s four largest lenders to lower interest rates in order to support small businesses and boost the economy. He emphasized the importance of supporting vulnerable groups like SMEs, who are struggling with high interest rates.

Thavisin highlighted the strength of Thai financial institutions and their capacity to make a significant impact by reducing interest rates for small businesses. The four largest lenders in Thailand are Bangkok Bank, Kasikornbank, Krungthaibank, and SCBX.

The government’s commitment to supporting economic growth and providing relief to businesses in need is reflected in Thavisin’s call for lower interest rates. This move comes at a time when businesses are facing unprecedented challenges due to the ongoing economic uncertainty caused by the global pandemic. Lowering interest rates can help businesses access much-needed capital at more affordable rates, enabling them to navigate the current economic landscape more effectively.

The government aims to stimulate economic activity and support businesses as they work towards recovery by working together with financial institutions. This proactive step towards supporting small businesses and revitalizing the economy reflects the government’s commitment to fostering a more resilient and sustainable economic environment for all stakeholders.