A new fund tailored to put the zest back into tourism has been established with two billion baht.
The Replenish Thai Tourism Flair Fund, set up by the Small Industry Finance Corporation (SIFC), will provide loans to small and medium sized enterprises.
The money has been drawn from this year's SIFC budget of 30 billion baht for helping SMEs in the manufacturing, retailing and wholesaling segments.
The new fund aims to support SMEs in the tourism industry and strengthen the country's major revenue source," said Kanok Abhiradee, the president of the SIFC.
Mr Kanok said that to be eligible for loans, the applicants must intend to start or expand tourism businesses.
Loans will range from 500,000 baht to 100 million baht. Each borrower is required to have fixed assets worth no more than 200 million baht and fewer than 200 employees.
