Debt relief for farmers; financial aid on the way

Thailand’s government will implement a debt forgiveness program for farmers registered with the Farmer’s Reconstruction and Development fund, Ministry of Commerce Officials told local media.

Interests and principle payments have already been halted by the ministry since May 7. Now the government is preparing some 900 million baht that will go into the debt-forgiveness or extension program, according to Commerce Ministry Permanent Secretary Boonyarit Kalayanamit.

According to Boonyarit, there are around 35,000 farmers registered with the fund who have failed to pay their debts. Those who have loans not exceeding 2.5 million baht will be eligible for the program.

Financial Aid

Boonyarit also said that the agricultural bank is preparing to provide a 3-month cash handout program worth 5,000 baht per month to 10 million farming households.

The government has prepared 150 billion baht for the program.

Around 8.35 million farmers are registered with the relevant government agencies and are eligible for the program. The remaining 1.65 million farmers will have to register by May 15.

Anant Suwannarat, permanent secretary for the Ministry of Agriculture and Cooperatives, confirmed last Saturday that one of the conditions to receive the handout is for farmers to grow crops on their land for at least 15 days before they can register.

However, a historic drought exacerbated by Chinese dams means that many farmers in the country’s North East cannot grow crops. Anant said the government will be more lenient in such cases.

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