THB 17 bn loans provided by BAAC to assist informal debtors

The Bank of Agriculture and Agricultural and Cooperatives (BAAC) has released 17 billion THB’s worth of loans to over 180,000 people in an effort to assist people burdened by informal debts.

According to the manager of BAAC Lak Watchananawat, the BAAC has been assigned by the Finance Ministry to look after the agriculture sector registered under the informal debt restructuring scheme, initiated by the Democrat-led government.

Currently the total number of debtors registered under the plan is 608,598, with debts totaling 64.5 billion THB.

From 9 July 2010, the BAAC has successfully mediated 353,802 cases, while negotiations are underway for another 20,411 cases; 28,605 cases yielded no fruitful results. It has also turned down 128,950 cases.

As a result of the mediation, 343,992 debtors have applied for loans from BAAC. The total debt was 41.5 billion THB. The BAAC has already approved loans for 187,960 people. Meanwhile, the amount of loans transferred to the BAAC’s system is 17.7 billion THB.

Reporter : Dolsinee Kritayapimonporn
News Date : 12 July 2010

BANGKOK, 12 July 2010 (NNT)

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Posted by Siam Daily News on Jul 14 2010. Filed under Business. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry