Ngern Tid Lor PCL is IFC’s First Investment in a Non-Banking Financial Institution in Thailand to Support MSMEs
The investment aims to support a resilient recovery by promoting business growth, creating jobs, and fostering financial inclusion.
Ongoing shifts toward e-commerce, digital payments (including contactless), and instant payments have all been significantly boosted during the pandemic with real-time payments surging by 104 percent.
The Bank of Thailand has been asked to review the ceiling of interest rates and supervise credit cards, personal loans and car loans, as the Thai government has vowed to tackle high household debt, incurred by credit card and personal loans.
Notwithstanding border restrictions, the region’s digital payments ecosystem is growing as countries collaborate to connect their domestic payment systems.