Bank for Agriculture and Agricultural
Co-operatives (BAAC), together with Siam Kubota and Siam Kubota Leasing will
soon launch a new Bt15 billion fund that will help farmers own agricultural
machines at reduced cost and increase productivity.
Under
the scheme, farmers are offered lower interest rate and maximum installment
payment period of eight years. Siam Kubota is a major agricultural tractor
manufacturer.
Signing
the memorandum of understanding on May 24, BAAC President Luck Wajananawat said
that this is a substantial cooperation. Having their own equipment will help
lessen their financial burden as well as increase productivity.
BAAC
will offer two types of loans under the scheme.
1. For
the procurement of agricultural equipments, machines and vehicles as well as
appendix equipments such as tractors, combine harvesters, rice transplanters,
paddy threshing machines, maize threshing machines, agricultural machines,
engines, and transporting trucks.
2. For
the refinancing of their outstanding loans, obtained for the procurement of
such equipments.
Farmers
will win loans worth 80-100 per cent of equipment value and have to repay loans
in 8 years.
Hiroshi
Kawakami, president of Siam Kubota, said that this campaign coincides with the
company’s policy to drive Thai agriculture forward sustainably by introducing
new technology, knowledge and agricultural know-how to reduce cost and increase
productivity.
"This
will help elevate the status of Thai agriculture to thrive amidst the
competitive environment, especially in the upcoming Asean Economic Community
(AEC)," said Suksri Punyakorn, managing director of Siam Kubota Leasing.
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