The Small and Medium Enterprises Development Bank of Thailand (SME Bank) has formed an alliance with Toronto-based Nova Scotia Bank to serve small- and medium-sized enterprises (SMEs) through two new packages worth 3.5 billion baht.
The SME Bank has signed an agreement with the Canadian bank, which it said was part of the strategy to transform itself into an entity centred on boosting Thailand's exports during the next few years.
SMEs will have access to more working capital through the financial packages while at the same time they will be able to utilise Nova Scotia Bank’s large overseas network to expand their markets.
Nova Scotia Bank has 1,650 branches and offices operating in 50 countries.
The agreement includes the extension of US$10 million (about 420 million baht) in packing credits for exporters.
