FRIDAY, March 29, 2024
nationthailand

BAAC sets aside Bt70 bn to promote smart farming, sufficiency economy

BAAC sets aside Bt70 bn to promote smart farming, sufficiency economy

The Bank for Agriculture and Agricultural Cooperatives (BAAC) has launched two new loan programmes with a total budget of around Bt70 billion to promote good farming practices.

The “New Gen Hug Ban Kerd” (new generation’s love for homeland) scheme has a budget of Bt60 billion to help those who wish to invest in new technology in smart farming, while the “Sufficiency Economy Loan”, with a budget of Bt10 billion, aims to provide a rotating fund for farmers who follow the principles of sufficiency economy or those who are going into farming as a source of additional income.
“The New Gen Hug Ban Kerd loan will charge interest at 4 per cent per year in the first three years with three months grace period. After three years the interest will be at minimum retail rate [MRR] or 6.5 per cent annually,” said the bank’s assistant manager Somkiat Kimaoha.
“Meanwhile, the Sufficiency Economy Loan will be limited to a maximum Bt50,000 per person with MRR interest rate or 6.5 per cent annually after three months grace period.
To promote social distancing practices during the Covid-19 outbreak, interested persons can apply for either loan via the bank’s official Line account “BAAC Family” by scanning the QR code or searching for ID @baacfamily, Somkiat said.
“The application is open now until June 30, 2021. A person can apply for only one type of loan,” he added.
For more information, contact BAAC Call Centre at 02 555 0555.

BAAC sets aside Bt70 bn to promote smart farming, sufficiency economy

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