BANGKOK: The Export-Import Bank of Thailand (EXIM Bank) has announced that it will shift its focus from lending to providing support for businesses which are relevant to the government’s strategies to boost Thai exports. EXIM Bank President Pisit Serewiwattana on Monday said the bank just adopted a new role to support such businesses by issuing credit guarantees for exports as well as providing loans for trade and investment expansion.
The bank is urgently developing comprehensive services for SMEs and lending while issuing credit guarantees for entrepreneurs who are investing in foreign countries, especially the CLMV group and new markets, said the president.
The president confirmed that the bank will still provide financial assistance for businesses of all sizes. Mr. Pisit also predicted that Thailand’s export sector will improve in the second half of the year and suggested that it urgently adjusts its production by using innovation to enhance competitiveness in the upper market segment.