BAAC to help flood victims in Chaiyaphum

September 29th, 2008 - 9:29 am ICT by Amrit Rashmisrisethi  

The Bank for Agriculture and Agricultural Cooperatives (BAAC)’s Chaiyaphum branch estimated that some 40,000 rai of farmland of the bank’s customers have been ravaged by recent flash floods, causing about 200 million baht in preliminary damage.

BAAC’s Chaiyaphum branch director, Mr Kajonkiet Buasri, said today (September 28) that the bank has prepared a number of relief measures, ranging from interest free loan repayment to proposed moratorium on doutful debts.

The bank’s initial survey shows that heavy rain and flash floods in the province since the middle of September have affected over 40,000 rai or 16,000 acres of the customers’ agricultural land, resulting in a combined damage worth about 200 million baht. Mr. Kajonkiet said the figure could be even higher when the situation resumes normalcy.

According to him, customers whose heads of the families died in the flood will be relieved of debts. For those whose farm produce was totally damaged, their debt repayment would be deferred by 12 months.

For customers whose agricultural produce was partly damaged, they would either be subject to interest rate reduction or given additional credits worth 30,000 baht each.

BAAC customers who are affected by floods are advised to contact nearby BAAC branches.

Source : National News Bureau, Public Relations Department of Thailand

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