Banks back B90bn in payouts | Bangkok Post: business

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Banks back B90bn in payouts

858,000 farmers will be paid by next month

  • Published: | Viewed: 3,690 | Comments: 3
  • Newspaper section: Business
  • Writer: Wichit Chantanusornsiri & Phusadee Arunmas
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All banks have given assurances they are prepared to lend 90 billion baht to the Finance Ministry to pay off the long-overdue debt owed to rice farmers, says a senior Finance Ministry official. 

ACM Prachin Jantong (centre), deputy chief of the National Council for Peace and Order, yesterday meets executives from the Finance Ministry and state banks to discuss the rice-pledging scheme. ACM Prachin has been assigned to oversee economic issues. APICHART JINAKUL

Deputy finance permanent secretary Pongpanu Svetarundra said the ministry had sent a letter to all 32 commercial and state-owned banks inviting them to participate in loans for the first batch of 50 billion baht in advance payments to farmers who pledged their paddy under the rice-pledging scheme for the 2013-14 main crop.

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