Local bankers and capital market organisations are setting up a three-billion-baht venture capital fund to assist small businesses hit by the tsunami, Finance Minister Somkid Jatusripitak said yesterday.
The new fund would complement an earlier commitment totalling two billion baht made by the SME Bank, Dr Somkid said after a meeting with bankers and market executives.
"Since the tsunami disaster, we have found that many entrepreneurs completely lost their businesses and have no capital whatsoever to reopen business again," he said.
The Tsunami Thailand Recovery Fund will include two billion baht from the Thai Bankers' Association, 500m from the Government Savings Bank, 200 million from the Stock Exchange of Thailand and 300 million from Siam City Bank.
