BAAC to grant 3-year debt moratorium to flood victims

Story : The Nation
Photo : Tatchadon Panyaphanitkul November 1, 2011 9:07 am

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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