BAAC and Land Reform Office providing loans to promote agro businesses

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BANGKOK, 15 July 2013 Farmers under the government’s land reform program will be offered with low-interest loans to improve their production capacity. 

Deputy Minister of Agriculture and Cooperatives Siriwat Kajornprasart announced the plan at the signing ceremony of an agreement to that effect between the Agricultural Land Reform Office and the Bank for Agriculture and Agricultural Cooperatives (BAAC). Mr. Siriwat said farmers who have been allocated a plot of land by the Agricultural Land Reform Office will be eligible to apply for the loan.

It is the 5th time, according to Mr. Siriwat, that the two organizations have agreed to provide financial support to farmers. The new offer is even more generous than ever as it covers not only individual farmers but also farmers’ organizations. The latter are allowed to use land rights certificate granted by the Agricultural Land Reform Office or other documents issued by the same office as guarantors.

The financial program is believed to help farmers improve their quality of life and develop them into successful self-sufficient entrepreneurs in the future.