Over 100,000 farmers seek financial aid from BAAC

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BANGKOK, 3 August 2015 – The government has shifted focus towards mounting agricultural debt, urging relevant agencies to get involved and educate farmers on financial management.

Deputy Spokesperson to the Prime Minister’s Office Major General Sansern Kaewkamnerd said that total agricultural debt has climbed to three trillion baht.

Prime Minister General Prayut Chan-o-cha has expressed concern for this problem and instructed related units to help affected farmers as soon as possible.

For farmers with informal debt, the Ministry of Justice will provide them with legal counsel, while the Ministry of Agriculture and Cooperatives will look for ways to relieve them of their debt.

More than 100,000 farmers have applied for financial assistance with the Bank for Agriculture and Agricultural Cooperatives and the Government Savings Bank.

Meanwhile, the Ministry of Finance is expected to come up with relief measures and promote jobs to help farmers struggling with formal debt.