BANGKOK, Thailand – The government has approved a 30-billion-baht shared-interest loan program to help farmers lower production costs by improving access to fertilizer and essential agricultural inputs.
Government Spokesperson Rachada Dhnadirek announced that the Cabinet approved relief measures for farmers and tasked the Bank for Agriculture and Agricultural Cooperatives (BAAC) with implementing the program.
The government will subsidize 3 percent of the annual interest rate, reducing it from 6 percent to 3 percent for eligible farmers. The total loan facility is 30 billion baht, with a maximum of 100,000 baht per borrower for a 12-month term. The program is available until April 30, 2029.
Applicants must complete reskilling or upskilling programs in cost management and efficient farming, organized by BAAC, the Ministry of Agriculture and Cooperatives, or partner agencies.
Loan funds must be used to purchase fertilizer through approved farmer institutions, agricultural groups, community enterprises, or other authorized sources.
Borrowers are also required to use certified seeds or planting materials approved by the government or by BAAC. Repayments must follow BAAC terms, and proceeds from agricultural sales should be deposited into BAAC accounts to support repayment.
The spokesperson stated that this program is an urgent government measure to address cost pressures from fluctuating fertilizer, energy, and transport prices, while supporting Thailand’s move toward precision and sustainable agriculture. Farmers can obtain more information at BAAC branches nationwide. (NNT)
