Ayutthaya: The Prime Minister visited Ayutthaya Province to monitor the progress of the "Half-Interest Loan Project," a 30 billion baht initiative designed to reduce production costs for farmers. This 3-year project aims to provide farmers with access to low-interest funding to support working capital, facilitate business investments, and promote a transition to precision, secure, and sustainable agriculture. Farmers can apply for loans capped at 100,000 baht per person with an interest rate of 6% per year, where the government subsidizes 3%, effectively reducing the rate to 3% for borrowers who meet specific conditions. Applications are open at all BAAC branches nationwide.
According to Thai News Agency, Prime Minister and Minister of Interior Anutin Charnvirakul, together with Deputy Prime Minister and Minister of Finance Dr. Ekniti Nitithanprapas, presided over the launch of the project approved by the Cabinet. The initiative is part of the government's strategy to enhance the agricultural sector's potential, helping farmers transition from traditional methods to advanced agricultural practices. The event featured registration and loan services for participants and introduced "Nong Mek Fon: AI Chatbot from BAAC Mobile application," which provides agricultural knowledge and guidance. Additional resources include soil quality analysis via the "Nong Din Dee" Line Official Account and the Agri-Map Online application, offering geographic data and crop recommendations.
The launch was attended by key figures, including Mr. Suriya Jungrungruangkit, Minister of Agriculture and Cooperatives, and Mr. Surasak Panjaroenvorakul, Minister of Tourism and Sports, as well as over 2,000 local farmers at the Agricultural Cooperative for Marketing BAAC Customers in Phra Nakhon Si Ayutthaya Province.
To qualify for the project, farmers must be BAAC customers registered with the relevant government agency. The project supports seven major cash crops: rice, animal feed corn, oil palm, cassava, rubber, sugarcane, and fruit. Participants are required to undergo training for skill development and cost management and must use loan funds to purchase certified seeds and fertilizers through approved sources. Loan repayments are facilitated through BAAC deposit accounts with a repayment period set within 12 months, no later than April 30, 2029.
The initiative is active for three years, following Cabinet approval until April 30, 2029. Interested farmers can inquire at any BAAC branch or through the BAAC Contact Center, website, mobile application, and Line Official Account BAAC Family.