The Bank for Agriculture and Agricultural Cooperatives (BAAC) is ready to provide up to 30 billion baht in loans for farmers who plant fuel crops for alternative energy production this year, BAAC acting vice president Ennoo Suesuwan said on Friday.
He was speaking at a national meeting on “Sustainable Trade and Development of Food, Energy and Environment” jointly organised at Queen Sirikit National Convention Center by the bank and Ramadhibordee Hospital.
“As of the end of July, 209, BAAC had extended 8.62 billion baht in loans to clients,” Mr Ennoo said. The bank had provided 34.56 billion baht in loans to farmers last year, exceeding the target of 27 billion baht.
In 2009, BAAC had set a lending portfolio for the production of safe foods and organic agricultural products at 13 billion baht, a substantial increase from 6 billion baht last year, to serve the increasing demand for farm loans.
The state-owned bank extended 15.97 billion baht in loans for the food-safety production promotion scheme in 2008.
BAAC has a policy to support the development on food safety and bio-fuel by providing loans for farmers in order to upgrade the production to international standard and create business opportunities.
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- Writer: BangkokPost.com
