Jakarta: BAAC joins in upgrading agricultural products at the APRACA Indonesia forum, passing the baton to BAAC to host the meeting in 2016. Mr. Chatchai Sirilai, Manager of the Bank for Agriculture and Agricultural Cooperatives (BAAC) and Vice Chairman of the Asia-Pacific Rural and Agricultural Credit Association (APRACA), attended the 78th APRACA Executive Committee Meeting to exchange views on the role of agricultural finance in the circular economy under the theme ‘The Strategic Role of Agriculture Finance in Circular Economy’, attended by over 90 member financial institutions from 24 countries.

According to Thai News Agency, the meeting emphasized the critical role of financial institutions in supporting the agricultural sector to promote a circular economy approach. Discussions included sharing experiences in financial support and lending strategies for the bioeconomy, as well as economic and green loans under BAAC’s operations. The forum also focused on evaluating the results of these operations and discussed guidelines for developing the APRACA Excellence Center (ACE). ACE is envisioned to be a hub for exchanging knowledge and good practices among member countries, enhancing the collective capability to support sustainable agricultural finance.

The event highlighted the importance of collaboration and knowledge sharing among the member countries, setting the stage for BAAC to host the next meeting in 2016, where further developments and strategies in agricultural finance will be explored.