Thai Cabinet approves one billion baht fund for farmers

[webfact]

Cabinet approves one billion baht fund for farmers

BANGKOK, 11 February 2016 (NNT) - Prime Minister’s Office spokesman Sansern Kaewkamnerd announced today that the cabinet has approved a one billion baht fund for the Cooperatives Promotion Department to subsidize farmers nationwide.

The department can provide loans without interest to the farmers who still have potentials to produce but may have been denied loans from financial institutions.

Each farmer can get an average of 30,000 baht in loan with a repayment term within two years.

The cabinet has approved the Ministry of Agriculture and Cooperatives' plan to provide a 10 million baht fund for the Cooperatives Promotion Department's management of the five-year loan project.

-- NNT 2016-02-11

[coulson]

What qualifies as *potentials to produce* ?...... alternative crops?

Don't see many rice farmers getting much of this ahead of water shortages, and those in the south can't be encouraged to produce any more rubber.

[BSJ]

30.000 baht isn't much. My wife spent 80.000 on chemmie and fertiliser just for the mango orchard! When it's rice again she will spend more!

[alant]

What happens if they don't pay back? If the normal institutions won't lend to them are they not high risk customers?

I am having problems understanding the differences of current policies towards farmers and past policies towards farmers, help please...

[Pib]

What happens if they don't pay back? If the normal institutions won't lend to them are they not high risk customers?

I am having problems understanding the differences of current policies towards farmers and past policies towards farmers, help please...

The only real difference is the card on the gift has a different "from" name and they use different wrapping paper.

[Srikcir]

This fund would seem to apply to all Thai farmers, regardless of their crops.

I'm sure all farmers will appreciate getting new loans for which they could not otherwise qualify from financial institutions and interest-free as a bonus. Albeit not even enough funds to buy a 42" smart tv.

Of course Prayut will pay the banks the normally applicable 8-10% interest rate as well as collateralize any unpaid loan. Banks are not in the charity business! And if this fund is off-budget from the approved FY 2016 budget passed by the NLA, Prayut will just issue more treasury bonds to pay for it.

Just another day with Prayut's Pracharat policy.

[rubl]

This fund would seem to apply to all Thai farmers, regardless of their crops.

I'm sure all farmers will appreciate getting new loans for which they could not otherwise qualify from financial institutions and interest-free as a bonus. Albeit not even enough funds to buy a 42" smart tv.

Of course Prayut will pay the banks the normally applicable 8-10% interest rate as well as collateralize any unpaid loan. Banks are not in the charity business! And if this fund is off-budget from the approved FY 2016 budget passed by the NLA, Prayut will just issue more treasury bonds to pay for it.

Just another day with Prayut's Pracharat policy.

Now before you start with wrong assumptions to be able to make negative remarks, governments always have their budgets as part of the National Budget and the financing is described in the budget. The English version called 'brief' has only 132 pages, but you can also download the 20 or so Thai detailed parts.

[coulson]

If the cooperatives fund is any initiative towards alternative farming then fair game. Otherwise it's business as usual. How many loans do you need......when you can't even afford to make existing payments.