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Uttama, BAAC chief discuss promotion of grass-roots economy

Dec 28. 2019
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By THE NATION

Finance Minister Uttama Savanayana held a meeting with the chairman of the Bank for Agriculture and Agricultural Cooperatives (BAAC) on driving the Thai grass-roots economy at Ban San Thang Luang community, Mae Chan district, in Chiang Rai province.

The minister also visited farmers who were the bank’s customers under the loan programme “Community Business for Thailand”.

BAAC president Apirom Sukprasert explained that this programme can support local community business from production to distribution. Its concept is to drive business through demand from local communities, integrating collaboration between the government and the private sector in knowledge and technological innovation.

Under this programme, the BAAC has instructed its staff nationwide to take care of business customers directly. Also, the bank is promoting working groups to operate at the district and sub-district levels, and also established a community business promotion centre to serve as a hub of collaboration between the government, private sector and local people.

Moreover, the bank can offer loans to programme participants with a limit of Bt50,000 at 0.01 per cent per year of interest, as well as other kinds of loan appropriate for each participant’s business.

The target groups of this programme are village funds, farmer groups, community financial institutions, community enterprises, smart farmers, agricultural small and medium enterprises, and cooperatives.

As of December 27, the bank has backed more than 77 community businesses nationwide and organised 93 community activities. It expects to improve 928 community businesses by March 31, 2020, and 4,500 businesses by 2021.

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