Industry Ministry Injects 1.5 Billion Baht to Strengthen SMEs Against Crisis
Thailand's Ministry of Industry is deploying 1.5 billion baht through two credit programs to help small and medium-sized enterprises survive global economic pressures, including rising oil prices from Middle East tensions. The "Tiger with W
The Ministry of Industry is moving forward to support Thai entrepreneurs facing global economic challenges by launching the second round of "Tiger with Wings" and "Strong Foundation" credit programs through the SME Development Fund, injecting a combined 1.5 billion baht. These initiatives aim to maintain business liquidity and equip enterprises with innovation tools to achieve sustainable growth amid regional economic crisis.
Nathapol Rangsitpol, Permanent Secretary of the Ministry of Industry and chair of the SME Development Fund, explained that Thailand's industrial and economic sectors are facing unavoidable challenges from global economic conditions, particularly the Middle East conflict driving up crude oil prices, which directly and indirectly impacts Thai manufacturing, trade, and exports.
Following the policy of Industry Minister Varawut Silpaarcha, who prioritizes supporting small and medium-sized enterprises as the country's foundation, the ministry aims to enhance SME competitiveness and maintain quality standards under crisis conditions, emphasizing sustainability and transition to new economy industries. The "Tiger with Wings" program will inject capital to encourage adaptation by applying innovation and technology to reduce costs, while the "Strong Foundation" program will serve as business protection, strengthening liquidity for entrepreneurs to maintain operations.
The SME Development Fund is fully prepared with over 1.5 billion baht divided into two programs: "Tiger with Wings" Round 2 with 1 billion baht ceiling, offering loans up to 15 million baht per applicant at fixed interest rates of 3-5% annually for innovation and technology investments; and "Strong Foundation" Round 2 with 500 million baht ceiling, offering loans up to 5 million baht per applicant at fixed rates of 5-7% annually to maintain business liquidity.
Applications are open from today until June 30, 2025, or until funds are exhausted. Interested entrepreneurs can apply online or contact the SME Development Fund office, provincial industry offices, or the Thai Small and Medium Enterprises Development Bank (SME Bank) nationwide.
