Thailand plans $1.6bln fund for small firms hit by virus outbreak

Fund will provide soft loans to those firms that have no access to funding

  
A view of the business district is seen from the rooftop of the Baiyoke Sky Hotel during the coronavirus disease (COVID-19) outbreak in Bangkok, Thailand, April 29, 2020.

A view of the business district is seen from the rooftop of the Baiyoke Sky Hotel during the coronavirus disease (COVID-19) outbreak in Bangkok, Thailand, April 29, 2020.

REUTERS/Athit Perawongmetha

BANGKOK - Thailand will seek cabinet approval next week for a 50 billion baht ($1.62 billion) fund to help small businesses affected by the coronavirus outbreak, a deputy prime minister said on Monday.

The fund will provide soft loans to those firms that have no access to funding, Somkid Jatusripitak told reporters.

Last month, Somkid said the government would set up a fund worth up to 100 billion baht for small and medium-sized enterprises. ($1 = 30.88 baht)

(Reporting by Kitphong Thaichareon Writing by Orathai Sriring; Editing by Martin Petty) ((orathai.sriring@tr.com; +662 0802309;))