Asia News

BOK mulls more loans for smaller firms

Written by Writer on Wednesday, October 22nd, 2008

BOK mulls more loans for smaller firms

SEOUL, Oct. 22 (Yonhap) — South Korea’s central bank said Wednesday it will consider providing commercial lenders with more low-rate loans reserved for smaller companies in a bid to help them weather the current cash crunch.

The Bank of Korea (BOK) currently maintains a cap of 6.5 trillion won (US$4.74 billion) on such loans carrying an annual interest of 3.25 percent. BOK Gov. Lee Seong-tae and his six fellow policymakers are slated to discuss the issue on Thursday.

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News Topics : Bank Of Korea, Cash Crunch, Commercial Lenders, Commercial Loans, Low Rate Loans, Policymakers, S Central, Seoul, Seoul Korea, Smaller Companies, South Korea, Tae, Trillion, Weather, Yonhap