Siam Commercial Bank launches three projects to promote local small and medium-sized enterprises (SMEs), including a venture capital fund worth Bt100 million.
The bank signs the four memoranda of understanding to assist the government's "Pracha Rath" policy.
"The MOUs will be adopted as part of the bank's business plan to drive three special projects that seek to boost the competitiveness and long-term sustainable growth of SMEs and start-up businesses," it said in a statement.
Aside from the venture capital fund, SCB will launch a marketplace where the SMEs can display products and sell them directly to consumers. The SME Expo - Total Business Solutions event is planned to provide practical answers for SMEs at every stage of their business growth.
To SCB President Yol Phokasub, the grassroots economy will lead to strong, stable, prosperous, and sustainable economic growth. Hence, SCB has therefore incorporated SMEs and start-ups into its main business plan for 2016.