BAAC fund raises 1.44 billion THB to help pay rice farmers

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BANGKOK, 8 April 2014  – The funds launched by the Bank for Agriculture and Agricultural Cooperatives (BAAC) to help compensate rice farmers who have yet to be paid for their pledged rice crops has reached 1.44 billion baht today.

The BAAC, which had invited the public and businesses to take part in the fund, has given an update on the latest progress concerning the fund. There are three types of funds on offer: 1) the donation fund, which has gained a total of 22,765,112.87 baht (the savings account number for donations is: 0200-3-3477-582 BAAC, Bang Khen branch), 2) the interest fund, which has gained 791,346,607.92 baht, 3) the interest-free fund, which has gained 626,883,075.01 baht. The last two types of the fund require a minimum principal of 1,000 baht upon subscription. The combined sum of the funds is 1,440,944,795.80 baht in total.