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EXIM Thailand Launches Post-shipment Revolving Credit for SMEs Secured by Export Credit Insurance Policy
Mr. Pisit Serewiwattana, President of Export-Import Bank of Thailand (EXIM Thailand), announced the launch of new credit facilities, i.e. “EXIM IBD Global,” a post-shipment revolving credit facility for SME exporters with a credit line up to 40 million baht per exporter to be offered at a discount rate of Prime Rate -2.00% per annum throughout the project tenor, in conjunction with a forward contract facility in the value equal to the credit facility amount and secured only by an export credit insurance policy and an individual or a juristic person. Prospective borrowers of EXIM IBD Global credit facility are required to first obtain an “EXIM IBD Global Insurance” policy. The credit facility is available to exporters with export value of up to 500 million baht per year and payment term of up to 120 days. Insurance protection covers more than 137 countries around the world. Announced at EXIM Thailand’s Head Office on October 25, 2018, the new service aims to protect Thai entrepreneurs against risks of increased uncertainties in the global markets including international trade wars, financial market volatility, political conflicts, natural disasters, any of which may hurt overseas buyers and result in their failure to pay for goods and services.
