Bangkok: Varawut Silpa-archa, Minister of Industry, has announced a significant expansion of the SME Green Productivity loan program, with SME D Bank injecting 10 billion baht to aid small and medium enterprises (SMEs) in transitioning to electric vehicles (EVs) and clean energy solutions.

According to Thai News Agency, the initiative is part of a broader strategy to mitigate the rising fuel costs impacting SMEs, particularly those involved in goods transportation. The Ministry of Industry, through the Small and Medium Enterprise Development Bank of Thailand (SME D Bank), is offering this government-backed loan program. The loans are set at a low interest rate of 3% per annum, fixed for the initial three years, with a repayment period extending up to 10 years. Eligible borrowers can access up to 30 million baht each, contributing to the total fund pool of 10 billion baht.

This initiative aims to propel Thai SMEs towards achieving green industry standards, allowing them to remain competitive globally amidst evolving trade regulations that prioritize environmental sustainability. The loan enables entrepreneurs to invest in clean energy vehicles, install solar panels, and upgrade machinery for clean energy use. Applications for the loan are being accepted until December 30, 2026, or until the funding is exhausted, through various channels including SME D Bank branches, LINE Official, the bank's website, and their Call Center.