Thai Jewelry Industry Receives Liquidity Boost

The Thai Department of Export Promotion, Ministry of Commerce, has provided financial support to the country’s jewelry industry.

The liquidity boost, specific figures were not listed in a statement by the Thai government, was a joint move from the government, private and financial sectors. The EXIM Bank, SME Bank, and the Small Business Credit Guarantee Corporation have singed a memorandum of understanding to extend lending to Thai and foreign operators starting in March, 2009. In particular, the funding was used to boost small and medium enterprises,

The funding includes money support for the domestic credit and related services for exporters, credit guarantee for unqualified exporters who are not eligible to get credit permissions from any financial institutes, risk guarantee for exporters in the jewelry industry that are effected from nonpayment of debts from foreign buyers, and risk evaluation for banks or buyers, including credit services for export and import—export related industries.