The Cabinet has agreed to assist state-run banks in refinancing the loans of 50,000 farmers after demonstrators held a seven-hour rally demanding that the government provide financial aid.
The Cabinet informed farmers that a budget of 1.5 billion baht will be set aside from the Central Fund to support the refinancing of their debts at four state-run banks, specifically the Bank of Agriculture and Agricultural Cooperatives, Government Savings Bank, SME Bank, and Government Housing Bank. With this support, farmers are expected to be able to settle their bank loans within 15 years.
The announcement comes after a rally at Government House by farmers seeking government assistance in refinancing their loans with these institutions. After the announcement, farmers expressed satisfaction with the government’s decision. (NNT)
