BAAC ACCEPTS PLAN TO SOLVE INFORMAL DEBTS
The Bank for Agriculture and Agricultural Cooperatives (BAAC) has agreed to the Ministry of Finance’s |mandate on solving the |problem of informal debts at the bank.
In the pilot project to solve informal debt of low-income earners in Songkhla province, Finance Minister Apisak Tantivorawong approved guidelines on solving informal debts of low-income earners and granted pico finance licences for operators in Songkhla and nearby provinces.
BAAC President Apirom Sukprasert said that the bank wanted to reduce informal debts to zero and established three agricultural SMEs in Songkhla as pilot projects for solving the problem. These involve processing of rubber pillows, hydroponics and processing young plants.
