Tuesday, October 20, 2020

BAAC lends helping hand to northerners hit by floods

Aug 27. 2020
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By THE NATION

The Bank for Agriculture and Agricultural Cooperatives (BAAC) has launched measures to help people in the North who have been adversely affected by the recent floods, especially those in Nan and Loei provinces.

“I have ordered BAAC staff in affected provinces to provide care packages and necessities to farmers who have been affected by the flooding,” the bank’s president Apirom Sukprasert said on Wednesday (August 25).

“Bank customers who have lost a family member will be given Bt20,000, including other related allowances such as the rental of vehicles for transport and evacuation.

“BAAC is also preparing an additional subsidy for account holders who need to urgently repair their home. Under this, a maximum of Bt20,000 will be provided per household, with an additional Bt2,000 for the repair or replacement of necessary facilities and another Bt2,000 for the repair of agricultural equipment,” he added.

For those seeking to borrow money, BAAC has prepared an “Emergency Loan for Natural Disasters in 2020-2021” under which a maximum loan of Bt50,000 per customer will be provided under an MRR interest rate and grace period of six months.

“Customers who have been affected by natural disasters can apply for ‘Loan for Quality of Life Improvement’ within a limit of Bt500,000 per customer at the interest rate of MRR-2,” Apirom said.

“As of August 23, BAAC has approved Bt275 million in emergency loans for 5,747 farmers affected by natural disaster and Bt4.09 billion in loans for the improvement of life for 23,403 farmers,” he added. “We have also approved Bt2.07 billion in loans for 13,931 farmers who were affected by drought earlier this year.”

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