Plan in motion to rescue SMEs from ruinSome small and medium enterprises (SMEs) affected by Covid-19's economic impact could soon qualify for government assistance after the Legal Execution Department began adjusting its criteria to allow businesses to enter rehabilitation. Justice Minister Somsak Thepsutin said yesterday many SMEs are suffering from a liquidity crunch from the effects of the Covid-19 pandemic, prompting foreclosures. He said the cabinet was asked to allow the department to adjust the criteria SMEs must meet to seek government assistance to cushion the impact. However, Mr Somsak said SMEs at least two million baht in debt would qualify for rehabilitation. In practice, the SMEs would come up with a rehabilitation plan to be approved by creditors.

Source: Bangkok Post July 14, 2020 22:52 UTC