The Bank of Thailand (BOT) plans to tackle a four-year decline in lending to SMEs with new measures to improve access to credit.
According to The Nation, BOT Governor Vitai Ratanakorn outlined the plans at the Thailand Economic Outlook 2027 forum on 8 October.
One initiative is an SME Credit Portal scheduled for an initial launch in December 2026. It would allow businesses seeking loans to connect with different financial institutions and explore financing options.
The BOT also plans to introduce an Alternative Data Exchange that would help lenders assess borrowers using transaction histories, utility payments and government records.
This could make it easier for freelancers and online sellers to demonstrate their ability to repay loans without relying on regular payslips.
Another measure would allow individuals to check their credit bureau records twice a year for free, with implementation expected within two to three months.
The central bank is also looking to expand its Credit Boost programme into a longer-term loan guarantee mechanism in early 2027.
The proposed five-year scheme would share lending risks using funds redirected from commercial banks’ contributions to the Financial Institutions Development Fund.
The BOT aims to generate around 100 billion baht in new SME lending annually through the guarantee scheme.
Featured image: Edited by Fintech News Singapore, based on images by BOT and topntp26 via Magnific
