Wednesday, September 22, 2021

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BAAC rolls out measures to help flood-hit farmers in the South


The Bank for Agriculture and Agricultural Cooperatives (BAAC) has come up with a series of measures to help farmers affected by flooding in the South.

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Surachai Rassamee, acting manager of BAAC, said the bank is concerned about people in the southern region, especially farmers whose crops were damaged by flash floods and water run-offs due to the northeast monsoon that was prevailing over the South earlier this week.

“Initially, the BAAC donated 8,518 survival kits to villagers in Nakhon Si Thammarat, Phatthalung and Songkhla provinces, and also worked with district administration offices in providing food, water, portable toilets and sleeping bags to people displaced by the flood,” he said.

“For existing customers affected by the flood, the BAAC will offer debt moratorium, depending on the extent of damage to their homes or agricultural produce,” he added. “Furthermore, they can apply for emergency loan of a maximum of Bt50,000 with no interest for the first six months.”

The BAAC also has earmarked Bt5 billion as loans for customers who need to fix their homes or farming facilities and equipment damaged by the flood.

“The maximum loan allowed for each customer under this programme is Bt500,000 with interest at minimum retail rate (MRR) minus two, under an up to 15 years repayment plan,” added Surachai.

Published : December 05, 2020

By : THE NATION