Farmers in 5 provinces to receive credit card

The Bank for Agriculture and Agricultural Cooperatives (BAAC) is scheduled to launch credit cards for farmers in 5 pilot provinces in February.

BAAC Vice President Boonchuay Jiadamrongchai disclosed that the project to provide 2 million credit cards to farmers nationwide is most likely to be completed within this year. Initially, the BAAC is set to begin distributing the credit cards in 5 provinces, which include Chiang Mai, Udon Thani, Ayutthaya, Lop Buri and Saraburi.

Farmers wishing to participate in the program must not have pending debts with the BAAC. Meanwhile, those under the debt moratorium program must wait for the finalization of the debt restructuring scheme before they can enter the credit card program.

Under the total budget of 60 billion baht, the credit limit for each cardholder stands at approximately 20,000-30,000 baht. The credit cards will be valid for purchases of fertilizers, pesticides and plant seeds.

Currently, the BAAC is in the process of producing the credit cards while the project outline is being considered by the Attorney-General.

(nnt)

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