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Thai farmers to access loan from agriculture bank

The Bank for Agriculture and Agricultural Cooperatives (BAAC) has
prepared 60 billion BTH (1.76 billion USD) to give out as loans to
farmers to boost farm productivity.

According to Finance
Minister Sommai Phasi, the 60 billion baht loan program is meant to help
farmers affected by water shortages. The first 30 billion baht will be
given to the farmers as a one-year loan.

The interest rate of 4
percent will be applied for the first nine months. However, no interest
will be incurred on for the remaining three months.

The Finance
Minister added later that the second portion would be given out on a
three-year basis with an interest rate of 7 percent. The BAAC is
expected to seek approval for the programme from its board of executives
on July 13.-VNA

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