Arakan

The land that is known as Arakan by the foreigners is called Rakhaing-pray by its own people, Rakhaing-thar (Arakanese) who were titled this name in honour of preservation on their national heritage and ethics or morality.

BAAC to grant 3-year debt moratorium to flood victims

Posted by Arakan Indobhasa Tuesday, November 1, 2011

BAAC to grant 3-year debt moratorium to flood victims

The Bank for Agriculture and Agricultural Cooperatives will grant a three-year debt moratorium to its debtors who have been affected by flooding.

Boonchuay Cheadamrongchai, deputy manager of the BAAC, said the floods had damaged 8.8 million rai of farmland and 2.66 million farmers had registered with the BAAC stating that they had been affected by flooding.

He said these farmers would be allowed to suspend their debt repayment for three years and they would not be charged for extra interest during the period.

The BAAC would also further give a loan of Bt100,000 to each of them so that they could rehabilitate their farms.

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