Credit cards for farmers in May

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Published: 14/12/2011 at 05:27 PM
Online news: Local News

If everything goes as planned, the credit cards for farmers scheme will be launched in May next year, Bank for Agriculture and Agricultural Cooperatives president Luck Wajananawat said on Wednesday.

Mr Luck said one million credit cards will be distributed to farmers in five pilot provinces: Ayutthaya, Saraburi, Chiang Mai, Udon Thani and Lop Buri in May, before next year's rice growing season.

The farmer would be able to use this credit card for the purchase of rice seed, chemical fertilisers and pesticides up to 70 per cent of his crop's estimated value, he added.

The promise of credit cards for farmers was part of election campaign by the Pheu Thai Party of Prime Minister Yingluck Shinawatra.

Industry Minister Wannarat Channukul

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banmebkk
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Discussion 5 : 16/12/2011 at 09:47 AM5
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There is a good reason why credit card companies screen applicants. Going back to Thaksins TRT policy of 1 million baht loan per village. To date less than 3% has pay back the loan in full. Now those loans and interested are stacked up and passed on, bring heavy burden for the villages who took it. But most of all, heavy burden for the country as 90% of villagers will never pay it back - 1. they don't have the ability to, 2. they took the money and ran, and don't care about trying to pay it back.
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geezzer
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Discussion 4 : 16/12/2011 at 08:55 AM4
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The more schemes and scams the government can set up,the more money can be siphoned off to fill the
boxes and bags of the managers of said accounts.
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franklin
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Discussion 3 : 15/12/2011 at 05:06 AM3
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Pure and simple, this is just another step in controlling the farmers through their indebtedness to those in power.
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dao
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Discussion 2 : 14/12/2011 at 11:13 PM2
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why donty they already have credit cards .Oh ya they dont have ability to pay back the company .Who will pay the debt .Tax payers that's who .What a nonsense scheme .
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crunchy
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Discussion 1 : 14/12/2011 at 09:45 PM1
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Farmers with credit card?? Im sorry for farmers, but who will pay for your monthly dues.
The poor became more poorer.. The agency/contractor who made for credit card will be more richer.
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Credit cards for farmers in May | Bangkok Post: news