Author Topic: Gov directs problem-solving for agriculturists’ debts  (Read 47 times)

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Offline thaiga

Gov directs problem-solving for agriculturists’ debts
« on: October 16, 2018, 10:42:06 AM »
Gov directs problem-solving for agriculturists’ debts

The government is directing a problem-solving approach to agriculturists’ debts in keeping with the consensus of the cabinet.

The consensus recently approved guidelines in solving the problem of the debts of agriculturists who are members of the Sustainable Farmers’ Reconstruction and Development Fund.

As regards farmers who have taken out loans from the Bank for Agriculture and Agricultural Cooperatives, the bank will reconstruct the debts for more than 35 thousand farmers who are members of the Sustainable Farmers’ Reconstruction and Development Fund.

These are borrowers who have failed to pay their debts since 31st December 2017 with a debt not exceeding 2.5 million baht each. They will be allowed payment suspension for half of the principal and the whole interest.

The Ministry of Agriculture and Cooperatives recently created a plan to develop careers for farmers within a budget of 20 million baht. This involves career support and agricultural product purchase planning. The project is intended to improve incomes for farmers so that they can pay their debt to the banks by the deadline and have sustainable incomes from their farm work.

As regards farmers in debt to other banks, the ministry is to discuss with the farmers and the banks ways to help them in a manner similar to the case of BAAC debtors. The rationale is to be collected and presented to the cabinet to consider in order to help every farmer equally.

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