The state-owned Bank for Agriculture and Agricultural Cooperatives (BAAC) plans to extend loans to 150,000 farmers this fiscal year to help them avoid the underground loan market, also known as loan sharks.
The bank targets lending up to 100,000 baht each to 100,000 farmers and over 100,000 baht to the other 50,000 farmers, said president Luck Wajananawat.
The loan duration will be 10-12 years. The bank's fiscal year runs from April 1 through March 31.
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