The Bank for Agriculture and Agricultural Cooperatives (BAAC) anticipates roughly 85% of the 2 million eligible farmers will participate in the government’s debt suspension programme, says president Chatchai Sirilai.
The scheme is one of the initial acts of the Pheu Thai-led government.
Mr Chatchai said the 15% of farmers expected to avoid the programme can be attributed to some loan contracts requiring a guarantor, though the guarantor may be deceased without a successor.
In some cases, the guarantor and borrower may live in different provinces, and BAAC regulations require contracts to be signed by both parties at the same time, he said.
For these cases, the BAAC can amend the regulation, allowing the guarantor and borrower to sign the contract on the same day in different locations, said Mr Chatchai.
Application for the debt moratorium was scheduled…
