BAAC promises additional support for indebted Thai farmers
More supportive measures to reduce Thai farmers' debt burdens will be introduced next year, Chatchai Sirilai, president of the Bank for Agriculture and Agriculture Cooperatives (BAAC), said on Sunday.
His commitment is consistent with Prime Minister Srettha Thavisin's pledge to address the issue of non-performing loans (NPLs) totalling 16 trillion baht during his government's tenure.
While he did not go into details, Chatchai stressed that the measures would directly help reduce debtor burdens.
He then highlighted the registration progress of indebted farmers, which is proceeding according to plan. Farmers have until the end of January to sign up for the programme, he said.
He also revealed the bank's strategic plan for 2024, in which the main focus will continue to be on reducing the proportion of NPLs in its portfolio while implementing more technology to assist its clients and help restore farmers' potential and productivity.
His announcement coincides with the launch of the bank's new lottery programme worth 100 billion baht, which aims to raise funds and increase cash flow while providing customers with more saving options.
