Bangkok – The Ministry of Agriculture and Cooperatives has held discussions with financial institutions and related agencies to find solutions to chronic indebtedness among Thai farmers.
The Farmer’s Reconstruction and Development Fund, which is supervised by the Ministry of Agriculture and Cooperatives, asked financial institutions on Friday to delay their lawsuits against indebted farmers and discussed the possibility of having Bangkok Commercial Asset Management Public Company Limited and Sukhumvit Asset Management Company Limited purchase the debts of 1,500 farmers who are not members of the Farmer’s Reconstruction and Development Fund.
The ministry’s debt management program is still open for applications. Farmers who took out loans for agricultural purposes from commercial banks, registered financial institutions, and the Bank for Agriculture and Agricultural Cooperatives may apply.
Applications are being accepted from now until October 13, 2018 at the offices of the Farmer’s Reconstruction and Development Fund nationwide.