SME Bank sets aside loans for NGV-van purchase

The plan is in line with the government's "Strong Thailand" strategy to provide more public transportation, save energy and create jobs.

Bank director and spokesman Vichaya Vitheethum said there would be a 5-per-cent down payment, eight years of instalments and no project-assessment surcharge.

"The loans will reduce not only oil imports but also unemployment figures, create more jobs and give people assets," Vichaya said.

They will encourage 6,000 public vans operated under Bangkok Mass Transit Authority (BMTA) concessions to convert from diesel to natural gas.

Vichaya said anyone interested had to purchase the van from the bank for Bt1.3 million at 4.75- to 6.75-per-cent interest, depending mainly on down payment.

For a 20-per-cent down payment the bank will not require a personal guarantee.

The conditions stand till year-end.

The BMTA has approved extension of the concession period from one or three years to 10 years for NGVs.