BAAC ready to help farmers suffering from drought

By k on March 8, 2010

ANGKOK, 8 March 2010 (NNT) – The state-run Bank for Agriculture and Agricultural Cooperatives (BAAC) is ready to help farmers from the drought crisis by issuing loans and moving forward the weather insurance scheme.

According to BAAC President, Luck Wajananawat, the bank will approve short-term loans for farmers for irrigation system development. The six-month period loan will not exceed 30,000 THB per head and will have a low interest rate. Farmers then are advised to grow crops requiring less amount of water during this dry season.

As for a long-term solution, the bank president elaborated that the BAAC and the Ministry of Finance would move forward the weather insurance program by using the rain index to help farmers. He said the bank would suggest the government help pay 100 THB per rai, a half of the insurance premium for farmers in order to attract participation of farmers into the program.

The scheme is now piloted in five provinces in the country, including Nakhon Ratchasima, Phetchabun, Saraburi, Lop Buri, and Nakhon Sawan with the participation of 750 maize farmers. The program is expected to expand to other types of crop such as rice and tapioca.

BAAC ready to help farmers suffering from drought BANGKOK, 13 June 2010 (NNT) – The Bank for Agriculture...
BAAC to set up community banks to lessen farmers´ informal debts BANGKOK, 28 April 2009 (NNT) – The Bank for Agriculture...
BAAC settles more than 50% of informal debts BANGKOK, 9 June 2010 (NNT) – The Bank of Agriculture...
PM asks farmers not to overstate land size BANGKOK, 21 February 2010 (NNT) – Prime Minister Abhisit Vejjajiva...
BAAC to push for new rice planting system to reduce costs and boost production BANGKOK, 4 June 2010 (NNT) — The state-run Bank for...

Related posts brought to you by Yet Another Related Posts Plugin.

Readers Comments

Business News »

Loan clients urged to be well-prepared for higher finance costs

July 16, 2010

BANGKOK, July 16 – Loan customers, particularly small- and medium-size enterprises (SMEs), must have well-prepared business plans to cope with higher financial costs in the face of an upward interest trend, according to the Kasikorn Research Center (KRC), a leading Thai financial think tank. Kasikorn said that major domestic commercial banks had begun raising the [...]

Bank And Finance »

Commercial banks announce hikes in interest rates on fixed deposits

July 16, 2010

BANGKOK, 16 July 2010 (NNT) —Interest rates on fixed deposits and lending rates have been hiked by financial institutions following the hike in the policy rate by the Central Bank. Krungthai Bank has announced its fixed deposit interest rate hike of 0.25-0.35%, while key lending rates would be increased by 0.125-0.15%, effective today. Siam Commercial [...]

General News »

Summary of the 9th APEC Energy Meeting

July 12, 2010

Thai delegates led by Minister of National Resources and Environment, Suwit Khunkitti, along with international counterparts from 20 countries attended the 9th Asia-Pacific Economic Cooperation (APEC) Energy Ministerial Meeting in Fukui, Japan on 19 June 2010. During the summit, a speech on the “Low Carbon Paths to Energy Security: Cooperative Energy Solutions for a Sustainable [...]

Economy »

4 Govt agencies cooperate to promote Thai investment abroad

July 12, 2010

BANGKOK, 12 July 2010 (NNT) – The Office of Thailand Trade Representative (TTR) joins force with three financial institutions to promote Thai investments abroad, with operators in various business groups showing keen interest in the project. TTR along with SME Bank, EXIM Bank and the Government Pension Fund (GPF) announced their cooperation in credit support [...]

Energy »

Moody´s chops down PTT´s credit

June 29, 2010

BANGKOK, 29 June 2010 (NNT) – An international credit rating firm, Moody’s Investors Service, has lowered the creditworthiness of Thai petroleum giant PTT Plc from A2 to A3 with a negative outlook. Moody’s Investors Service has changed the local currency issuer rating for PTT Plc from A2 stable to A3 negative while the foreign currency [...]

Politics »

One month needed for Interpol consideration over Thaksin´s case

July 16, 2010

BANGKOK, 16 July 2010 (NNT) – A nod from the Paris-based international police intelligence-sharing association, Interpol, over case of self-exiled ex Prime Minister Thaksin Shinawatra should be known within one month. Police Maj-General Terdsak Rujirawong, Commander of the Royal Thai Police Foreign Affairs Division, said on Friday that an arrest warrant on terrorism charge issued [...]