BAAC rushes to help and rehabilitate flood victims in the Northeast, suspending debt payments for 1 year

The chairman of the BAAC board is rushing to help and rehabilitate flood victims in the Northeast, suspending debt for 1 year and adding 50,000 baht in career rehabilitation loans. Mr. Chulaphan Amornvivat, Deputy Minister of Finance and Chairman of the Board of Directors of the Bank for Agriculture and Agricultural Cooperatives (BAAC), visited the area to provide encouragement and hand out relief bags and essential items to alleviate the suffering of flood victims in the Northeastern region, such as Nong Khai Municipality, Ban Duea Subdistrict Municipality, Phon Phisai District Office, Nong Khai Province, and Pak Khat District Office, Bueng Kan Province. During the situation, BAAC surveyed the damage of customers to collect information and set appropriate assistance guidelines. For those with debts with BAAC, debt repayment can be postponed for up to 1 year without interest. Farmers must notify their intentions in person at their BAAC branch from now until December 31, 2024. And measures to restore and en hance farmers' liquidity through 1) Emergency Expense Loan Project 2024/2568 to enhance farmers' liquidity in terms of general expenses, such as necessary consumer goods and services, 0% interest rate for the first 6 months, with a maximum credit limit of 50,000 baht per person. 2) Loan Project to restore and develop quality of life for investment in repairing houses and property, repairing damaged agricultural tools and equipment, and expenses for a new round of farming, with a maximum credit limit of 500,000 baht per person. Source: Thai News Agency