Bank of Thailand Extends Business Support Program to End of 2027

The Bank of Thailand (BOT) has announced an extension of its "Asset and Debt Moratorium" program until the end of 2027. This initiative, originally launched in 2021 to assist businesses facing liquidity problems due to the COVID-19 pandemic, will now provide support for an additional two years. According to BOT Governor Vitai Ratanakorn, over 400 businesses are currently enrolled in the program, with their rights to repurchase assets set to expire starting this month. However, the central bank acknowledged that some companies are still impacted by the ongoing economic downturn and the conflict in the Middle East. While these businesses intend to repurchase assets, they require more time to secure the necessary funding as they are still in a recovery phase. To address this, the BOT has extended the deadline for exercising the right to repurchase assets under the program to no later than December 31, 2027. This extension aims to give these potentially viable businesses additional time to secure funding and continue their operations. Previously, the BOT and the government had supported financial institutions in using existing measures to help businesses access funding for asset repurchases. These measures included programs like the "Increase Assets" loan program, "SMEs Secure+", and soft loan schemes from the Government Savings Bank. The current extension is intended to complement these ongoing efforts by providing a longer runway for recovery. Information source: Thai Newsroom