Two State Banks Join Forces to Empower Thai SME Entrepreneurs
Thai banks, SME D Bank and EXIM BANK, are collaborating on the “SME D EXIM ARI CONNEXT” project to support small and medium-sized enterprises (SMEs) in joining the global market. This partnership aims to provide comprehensive support to SMEs across all levels and business sectors, facilitating their seamless integration into the international marketplace.
As key financial institutions under the Ministry of Finance, SME D Bank and EXIM BANK are working together to foster the growth and development of Thai SMEs through the “SME D EXIM ARI CONNEXT” initiative. This project encompasses a wide range of support services, including access to funding, skills enhancement, and knowledge enrichment, all aimed at promoting sustainable growth for SMEs.
Today, the Small and Medium Enterprise Development Bank of Thailand (SME Bank) and the Import-Export Bank of Thailand (EXIM BANK) signed a Memorandum of Understanding (MOU) for the “SME D EXIM ARI CONNEX” project. This collaboration seeks to boost capital sources and enhance the potential of SME entrepreneurs in international trade, ensuring long-term sustainable growth. By establishing data links and facilitating SMEs’ access to financial services, both banks aim to elevate the competitiveness of Thai SMEs in the domestic and international markets.
Ms. Nartnaree Rattapat, Managing Director of SME D Bank, expressed her enthusiasm for this partnership, highlighting how the collaboration between the two banks will leverage their unique strengths to serve the needs of SME entrepreneurs. Through information sharing and tailored services, SMEs will gain opportunities to access capital sources and acquire additional skills and knowledge from both financial institutions.
SME D Bank is well-positioned to provide financial services, offering loan products specifically designed for small and medium-sized businesses. These loans can be utilized for various purposes, such as improving liquidity, investment, expansion, business transformation, working capital, or refinancing. With a maximum loan limit of 50 million baht, SME D Bank offers relaxed interest rates, installment periods of up to 15 years, and a principal payment-free period of up to 24 months. Additionally, SMEs can benefit from the SME Trainer project, which provides professional consultancy services to enhance their business potential and achieve sustainable success.
Dr. Rak Worakijpokathorn, Managing Director of EXIM Thailand, emphasized the seamless integration between EXIM BANK and SME D Bank in providing comprehensive services to Thai SME entrepreneurs. Through this collaboration, EXIM BANK aims to support SMEs throughout the supply chain, from upstream to downstream, by providing vital information, capital, and solutions to address any challenges that arise. By connecting SMEs to the global trade supply chain, EXIM BANK, along with the assistance of SME D Bank and government and private alliances, ensures that entrepreneurs can successfully launch and operate their businesses within the country, with the ultimate goal of expanding into international markets. Both banks are well-equipped to provide working capital and loans, tailored to the specific needs of entrepreneurs. SME D Bank primarily supports domestic operations, while EXIM BANK aids exporters with capital exceeding 50 million baht, offering protections against non-payment risks and various risk management services, including foreign exchange forward contracts and currency insurance.
“Despite the presence of over 3 million SMEs in Thailand’s business landscape, they contribute only 35% to the country’s GDP, with less than 1% engaged in exporting. This proportion is significantly lower than that of neighboring countries. Therefore, EXIM Thailand has intensified its collaborations to increase the number of SME exporters, aiming to play a pivotal role in driving the economic growth and sustainable development of Thailand and the world,” stated Dr. Raks.
21/07/2023 Print
2 state banks joined Ringing the bell of the project “SME D EXIM ARI CONNEXT”, performing services and attaching small and medium business wings to the global market
“SME D Bank” and “EXIM BANK” are creating a new dimension to help Thai SME entrepreneurs join to move forward with the “SME D EXIM ARI CONNEXT” project, connecting support for SME entrepreneurs covering all levels and all business groups seamlessly.
2 State Specialized Financial Institution Under the Ministry of Finance, “SME D Bank” and “EXIM BANK” are creating a new dimension to help Thai SME entrepreneurs to join to move forward with the “SME D EXIM ARI CONNEXT” project, connecting support for SME entrepreneurs to cover all levels and all business groups seamlessly. Both sources of capital and the development of increasing skills and knowledge stimulate sustainable growth
Today (July 21, 2023) the Small and Medium Enterprise Development Bank of Thailand (SME Bank) or SME D Bank and the Import-Export Bank of Thailand or EXIM BANK as a specialized state-owned financial institution. under the supervision of the Ministry of Finance They jointly signed a Memorandum of Understanding (MOU) “Promoting capital sources and developing the potential of SME entrepreneurs for international trade for sustainable growth” (the “SME D EXIM ARI CONNEX” project, adding capital, improving skills, promoting Thai SMEs to the world stage), where the two agencies will jointly drive and support Thai SMEs to entrepreneurs through data links between each other. and promoting SME entrepreneurs’ access to financial services through credit or co-investment products together with development helping to increase business potential improving competitiveness driving business domestically and internationally for sustainable growth
Ms. Nartnaree Rattapat Managing Director Small and Medium Enterprise Development Bank of Thailand (SME Bank) or SME D Bank said that each state-owned specialized financial institution Each has a main mission and distinctive features This collaboration will bring the strengths of SME D Bank and EXIM BANK to fully serve SME entrepreneurs. by linking information and forwarding services between each other as appropriate for each SME entrepreneur, opening up opportunities to access sources of capital Including receiving additional skills and knowledge from both financial institutions
SME D Bank is ready to provide “financial” services with loan products for small and medium businesses. covering all business groups It can be used to improve business liquidity, invest, improve, expand, change businesses. working capital or refinancing The maximum loan is 50 million baht, the interest rate is relaxed. Installments for up to 15 years and free of principal payments for up to 24 months, plus “development” services through the SME Trainer project, which provides consultancy services. by a professional trainer Improving the potential of small and medium businesses to achieve sustainable success.
Dr. Rak Worakijpokathorn Managing Director Export-Import Bank of Thailand (EXIM Thailand) said that EXIM Thailand seamlessly integrates with SME D Bank this time. To provide services to add information, add opportunities, fill capital completely and answer all problems (Total Solutions) of Thai SME entrepreneurs throughout the supply chain from upstream to downstream. Connecting with the global trade supply chain Entrepreneurs coming to connect with EXIM Thailand will be trained by EXIM Thailand in collaboration with SME D Bank and government and private alliances until they can start and operate businesses within the country vigorously. when ready to expand the business to export Both banks are ready to support working capital and loans in the form of interest rates. and lenient conditions with the specific expertise of two different financial institutions Entrepreneurs operating at home will be supported by SME D Bank, and exporters in need of capital exceeding 50 million baht will be supported by EXIM BANK. Protect against the risk of not receiving payment for goods from overseas buyers. Foreign exchange forward contracts and currency insurance services for exchange rate risk management, etc.
“There are more than 3 million small and medium businesses in the system, but they only contribute 35% of GDP and they are less than 1% exporters, which is a very small proportion compared to neighboring countries. EXIM Thailand has therefore accelerated cooperation with partners to increase the number of SME exporters in order to play a key role in driving economic growth and sustainable development of Thailand and the world,” said Dr Raks.
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