Cabinet greenlights draft NaCGA Bill

The cabinet approved the draft National Credit Guarantee Agency (NaCGA) Bill yesterday, which enables small and medium-sized enterprises (SMEs) to access loans at lower costs.

- WICHIT CHANTANUSORNSIRI

According to Deputy Finance Minister Paopoom Rojanasakul, NaCGA will be a state agency and nota government department or state-owned enterprise, assessing risks and providing credit guarantees for people applying for loans from commercial banks, state-owned specialised financial institutions and non-bank lenders.

Loan applicants are required to first contact NaCGA to request a credit guarantee before submitting an application toa financial institution.