Bangkok: BAAC has initiated immediate measures to assist those impacted by the unrest on the Thai-Cambodian border. The bank is offering emergency expense loans for 2025, capped at 50,000 baht per person with 0% interest for the first 6 months. Additionally, loans up to 500,000 baht per person are available for life quality restoration and development at an MRR - 2 interest rate.
According to Thai News Agency, Mr. Chatchai Sirilai, Manager of the Bank for Agriculture and Agricultural Cooperatives (BAAC), highlighted the effects of the border unrest on local livelihoods, particularly those of direct farmer customers. The unrest has impacted both life and property, including essential areas for earning a living. In response, BAAC has established urgent measures to support these individuals by enhancing liquidity and providing rehabilitation opportunities. The aim is to ensure farmers in distress have access to low-interest funds for rebuilding or repairing houses, agricultural greenhouses, tools, and machinery.
The measures include two main loan projects: an Emergency Expense Loan Project for 2025, which aids farmers with general expenses, offering a 0% interest rate for the first 6 months and an MRR interest rate thereafter, with loans up to 50,000 baht per person and a repayment period of up to 3 years. The second project focuses on restoring and developing quality of life, allowing investments in repairing homes and property, and covering repair costs for agricultural tools and equipment damaged by the unrest. This loan offers up to 500,000 baht per person with an MRR-2 interest rate and a repayment period of up to 15 years.
BAAC expressed its commitment to supporting those affected by the unrest at the Thai-Cambodian border. The bank is prepared to provide comprehensive assistance to alleviate the people's distress and encourage them to overcome the challenges posed by the current situation. Once the situation stabilizes, BAAC plans to assess the damage to residences, properties, and agricultural areas to formulate additional assistance strategies. Affected farmers are invited to communicate their needs immediately at any BAAC branch nationwide or contact the Call Center at 02 555 0555, available 24 hours daily.