BAAC to meet over farmers’ fund target | Bangkok Post: business

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BAAC to meet over farmers’ fund target

B20bn goal may be met by end of June

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The board of the Bank for Agriculture and Agricultural Cooperatives (BAAC) is set to discuss next month whether it will raise the target for farmers' funds if the current 20-billion-baht target is achievable as expected by the end of June. 

Local administrative organisations are now helping by putting their money into the funds set up to advance payments to rice farmers, said Luck Wajananawat, BAAC's president.

Farmers' funds fulfil a vital role in paying rice farmers who have not received payments for paddy pledged under the government's cash-strapped rice-pledging scheme for the 2013-14 main crop, which expired at the end of February, as it is uncertain if or when the government can borrow from banks, he said. The government's caretaker status prohibits it from borrowing.

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