Govt mulling property fund to raise loan money for tourism operators

[webfact]

Govt mulling property fund to raise loan money for tourism operators

By The Nation

 

File photo for reference only
 

The Finance Ministry and state agencies are discussing the possibility of setting up a property fund to support loans for tourism and airline operators to combat the impact of Covid-19, said a Government House source.

 

The discussion concerns the size of the fund and related regulations as well as potential demand from investors, the source added.

 

Business operators may be allowed to use their assets, such as hotels, as collateral to back their loans from the fund, said the source.

 

Thai tourism operators are struggling with the Covid-19 fallout and absence of foreign tourists, with some finding it difficult to access bank loans.

To attract investors, the fund should offer a higher interest rate than banks' deposit rate, the source said.

 

Source: https://www.nationthailand.com/business/30398695

 

-- © Copyright The Nation Thailand 2020-11-30

 

- Whatever you're going through, the Samaritans are here for you

- Follow Thaivisa on LINE for breaking COVID-19 updates

[nobodysfriend]

4 hours ago, webfact said:

To attract investors, the fund should offer a higher interest rate than banks' deposit rate, the source said.

 

Well , that is not difficult to offer ... banks deposit interest rates are close to zero anyway ...

 

4 hours ago, webfact said:

Business operators may be allowed to use their assets, such as hotels, as collateral to back their loans from the fund, said the source

Comes too late for the Dhara Dhevi Hotel in CM ...

[KC 71]

1 hour ago, nobodysfriend said:

Well , that is not difficult to offer ... banks deposit interest rates are close to zero anyway ...

 

Comes too late for the Dhara Dhevi Hotel in CM ...

Most hotels will be closing soon if this continues.