BAAC encourages farmers to include cattle raising groups With 0.01% interest loan, total credit limit of 50,000 million baht per business balance
Mr. Somkiat Kimawha, Deputy Manager, Bank for Agriculture and Agricultural Cooperatives (BAAC) Revealed that, according to the BAAC signed a cooperation agreement with the Department of Livestock Development Ministry of Agriculture and Cooperatives In driving the project to support credit to promote animal husbandry and related businesses such as cattle, buffalo, goats, beef and local chickens, the BAAC now sees beef cattle to be popular for consumption. It also has a higher selling price than in the past. Therefore, farmers are encouraged to turn to raising cattle in order to promote farmers to have more occupations and income.
In addition, to strengthen their occupation, BAAC and the Department of Livestock Development has encouraged farmers who are ready for raising livestock. To form a community enterprise Which can apply for registration at the District Agricultural Office in each area Then, the knowledge of raising standards will be provided by the Department of Livestock Development, along with developing a business plan that is consistent with the community’s context in terms of economy, society, environment, culture.
The said business plan shows the origin of the project. Organizational structure, objectives, goals, operating procedures, management plan, financial plan, production plan, marketing plan using market principles, lead production, for example, there is a contract to buy and sell. Or a memorandum of purchase Additional benefits are allocated to farmers or communities, etc.
The community enterprises operating in accordance with the aforementioned process are ready to provide credit support for the Build Thai Community Business Project. It is for investment and revolving expenses Interest rate of only 0.01% per year or 100 baht per million for a period of 3 years from the date of the loan. From the 4th year onwards, the interest rate is calculated on a normal basis of the bank.
Loan repayment due in case of revolving expenses not more than 12 months (special up to 18 months) in case of investment cost not more than 15 years (special not more than 20 years) from the borrowing date Payment period from now until 30 November 2022, total credit limit of 50,000 million baht.
“Currently, there are more than 104 community enterprises participating in the project and BAAC has supported more than 417 million baht in loans. Interested parties can inquire about credit support programs for promoting animal husbandry and related businesses. At the District Agricultural Office District livestock or BAAC in your area, “said Somkiat.
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