(MENAFN)
The central bank of Thailand said on Wednesday that it is going to allocated a total of USD27.48 billion in order to support small and medium-sized enterprises (SMEs) and the corporate bond markets that were harshly struck by the coronavirus outbreak.
Governor of the bank Veerathai Santiprabhob said that "The Bank of Thailand (BoT) and the Ministry of Finance are working together to quickly implement measures to support SMEs, as they form Thailand's backbone of the economy and a primary source of employment".
Adding that "It is necessary for these businesses to have sufficient funding and liquidity to survive these testing times and retain their workforce."
The official then added that around USD15.28 billion are going to be used to save the SMEs as USD12.22 billion are going to be used to boost the corporate bonds.
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