Thai Development Bank (SME) Encourages NGV Purchases
July 29, 2009 – 3:53 pm | Source: The Nation | Thailand, Bangkok
The Thailand government’s ‘Strong Thailand’ strategy, aimed at increasing public transportation and jobs while saving energy, will benefit the local natural gas vehicle industry with a new measure announced by the Small and Medium Enterprises Development Bank of Thailand (SME Bank). According to a report by The Nation, the bank will provide special loans worth Bt1 billion (USD 29.4 million) for the purchase of NGVs. The announcement is expected to encourage 6,000 public vans operated under Bangkok Mass Transit Authority (BMTA) concessions to convert from diesel to natural gas. The loan terms include a 5-per-cent down payment, eight years of instalments and no project-assessment surcharge, with conditions standing until year-end.