Bangkok, 3rd September 2018 — The Ministry of Agriculture is planning to seek the government’s approval for a new set of measures to help ease farmers’ debt problems.
Minister of Agriculture and Cooperatives, Grisada Boonrach said on Monday that the planned solution, which will soon be presented to the Cabinet for consideration, comprises the extension of the deadline for the repayment of non-performing loans or NPLs from the original date of December 31, 2009 to December 31, 2017.
Mr. Grisada added that the Ministry will also ask for a compensatory budget for the Bank for Agriculture and Agricultural Cooperatives to help settle 50 percent of loans of 239 borrowers, and a special budget to compensate the bank on behalf of 36,366 farmers who are considered qualified to receive assistance, for instance.
He added that the Ministry will welcome indebted farmers with certain qualifications to join a debt-restructuring program and the registration will be open until October 13.
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