BANGKOK, 30th January 2018 (NNT) The state-owned Small and Medium Enterprise Development Bank (SME Bank) has allocated a total of 78 billion baht in loans for SMEs affected by a minimum wage increase.

The SME Bank Managing Director, Mongkol Leelatham, said his bank plans to lend 78 billion baht in loans to small and medium-sized businesses to improve their liquidity, following the daily minimum wage hikes.

Loans will be offered to small businesses with one percent interest rate, starting February. Small and medium-sized businesses will be given a 15 million baht credit limit, starting March, in addition to loan offers available from January for community enterprises focusing on local tourism and agricultural businesses with three percent annual interest rate.

The offers come as part of the 245 billion baht financial support packages approved by the cabinet on December 19th, 2017, to help SMEs via government-owned financial institutes.