Investment in Tidlor to benefit MSMEsMr Piyasak says the investment by IFC will allow Tidlor to improve its balance sheet. The International Finance Corporation (IFC) has invested up to US$100 million in Ngern Tid Lor Plc (Tidlor), a Thai non-banking financial institution (NBFI). The financing package will allow Tidlor to increase its lending to micro, small, and medium enterprises (MSMEs) in the country. Yet, even before Covid-19, MSMEs in Thailand had an estimated financing gap of $41 billion, accounting for 10.3% of the country's GDP. "In the face of an ongoing crisis, IFC's investment will allow Tidlor -- an affiliate of Bank of Ayudhya -- to strengthen our balance sheet as we execute on our strategy to promote financial inclusion with a digital- and data-driven approach," said Piyasak Ukritnukun, managing director of Tidlor.

Source: Bangkok Post August 25, 2021 23:59 UTC