Thailand govt showers more soft loans for troubled tourism sector; 10 new imprted Covid-19 cases on Tuesday (Nov 3)

Thai PM Prayut Chan-O-Cha chairing the Cabinet meeting in the resort city of Phuket on Tuesday.The government will offer more soft loans to support tourism businesses hit by the Covid-19 pandemic, said Finance Minister Arkhom Termpittayapaisith after Tuesday’s Cabinet meeting in Phuket. - The Nation Thailand/ANN

BANGKOK, Nov 3 (The Nation Thailand/ANN): The Cabinet approved raising the ceiling for government soft loans from Bt20 million to Bt100 million. The Government Savings Bank (GSB) will apply annual interest of 0.01 per cent to banks who offer the loans to tourism businesses.

The two-year loans are being offered by commercial banks at annual interest of 2 per cent.