Bangkok:The Bank of Thailand (BOT) has announced a series of measures aimed at providing small and medium-sized enterprises (SMEs) with access to 100 billion baht in funding. This initiative coincides with Thailand's role as host of the upcoming IMF and World Bank Group meetings, which is seen as a significant opportunity for the Thai economy.
According to Thai News Agency, the BOT has launched four specific measures to support SMEs. These include establishing new loan guarantee mechanisms, developing an alternative data exchange system to streamline loan approvals and prevent scams, and launching the SMEs Credit Portal project. The portal is intended to connect potential borrowers with financial institutions, thereby enhancing competition and reducing inequality. Moreover, financial costs and fees are expected to decrease, with offerings such as free credit bureau checks for the public and SMEs twice a year.
Mr. Witai Rattanaporn, Governor of the Bank of Thailand, highlighted that the Thai economy is projected to grow by approximately 2.3% this year. Although this growth is better than anticipated, it remains low and is challenged by structural issues, particularly widening inequalities. The growth is concentrated in technology and AI sectors, with AI exports increasing by almost 40%, while non-AI exports have grown by only about 5%. Additionally, a mere 1% of AI exporters account for 82% of the export value. The disparity is further evident in credit access, with large businesses obtaining credit at a rate of 63%, compared to 21% for promising SMEs.
The Governor also emphasized the significance of Thailand hosting the IMF-World Bank Group Annual Meetings in October 2026. This event, themed "Thailand's New Horizons Empowering People, Building Resilience," aims to showcase Thailand's economic potential and global role. Part of the agenda includes introducing the Bangkok Blueprint, which will offer guidelines on combating scams, an area where Thailand has considerable expertise. The blueprint is intended to serve as a global guide for addressing scam-related issues.