Finance Minister Arkhom Termpittayapaisith has asked the Bank for Agriculture and Agricultural Cooperatives (BAAC) to restructure farmers' debts to reduce non-performing loans (NPLs) to 3-4% for this accounting year from nearly 8% year-on-year.
He said in addition to debt restructuring for farmers, the BAAC has implemented public service projects to increase productivity and generate additional income by providing loans to farmers' groups to grow short-term crops based on market demand.
The income is divided into three parts: 50% for debt repayment, 40% for further investment in farming equipment and 10% for group management fees.
