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 role of financial supporters for the agricultural sector to promote the circular economy approach. Participants shared experiences in financial support and lending for the bioeconomy, economic loans, and green loans under the operations of BAAC. The discussions also included following up on the results of operations and exploring guidelines for developing the APRACA Excellence Center (ACE), which aims to serve as a hub for exchanging knowledge and best practices among member countries.

The forum provided a platform for stakeholders to collaborate on enhancing agricultural products through innovative financial strategies, thereby aligning with global sustainability goals. The transition to a circular economy in agriculture is seen as vital for long-term environmental and economic sustainability, and the BAAC’s involvement underscores its commitment to fostering such initiatives.