Bangkok, BAAC reveals that in the fiscal year 2023, it will inject 860 billion baht into the rural sector, aiming to reduce NPLs debt down to 4 percent. The BAAC board approves lending to village social workers. Not more than 20,000 baht, interest charged at 0.67 percent per month, starting April 2024. Mr. Chulaphan Amornvivat, Deputy Minister of Finance As Chairman of the Board of Directors of the Bank for Agriculture and Agricultural Cooperatives (BAAC), he revealed that due to COVID-19 problems, trade conflicts, and natural disasters, the total amount of non-performing loans (NPLs) of the BAAC has soared. As high as 14.64 percent in fiscal year 2022 after adopting many government measures to take care of debtors, fiscal year 2023 can reduce the NPLs debt down to 5.5 percent. It is expected to control NPLs to a level below 4 percent in the fiscal year. 2567 BAAC has added more than 859,575 million baht of additional loans to enhance liquidity and stimulate investment in the agricultural sector, resulting in the outstanding loan balance of 1.69 trillion baht, an increase of 51,736 million baht from the beginning of the fiscal year, or 3.16 percent. Total deposits totaled 1.89 trillion baht, growing from the beginning of the year to 58,822 million baht, or 3.22 percent, creating a growth base in new customer groups, such as BAAC lottery sets, gold bags with a credit limit of 100,000 million baht, and digital lotteries, etc., with assets. 2.30 trillion baht, an increase of 1.72 percent, total liabilities 2.14 trillion baht, owner's equity 158,865 million baht, capital adequacy ratio (BIS) 12.75 percent, higher than the BoT criteria set. Driving work according to government policy Measures to suspend debt payments for small farmers to contract farmers as of September 30, 2023, not more than 300,000 baht. There are 1.84 million people who have reported their wish to join the measure through the BAAC Mobile application, accounting for 92 percent of customers eligible to join the measure. There are 130,000 customer s expressing their desire to attend a course to restore occupational potential under the concept of "leading market, additional innovation, increasing income." The bank is ready to restore occupation to 300,000 by September 2024 and has loan measures to help and Supports outside debt Through loans to pay off debts outside the system The credit limit does not exceed 20,000 baht. 545 million baht has been paid in loans and 9,572 million baht in revolving fund loans for lending to farmers and the poor. In addition, the BAAC also helped solve the problem of debt outside the system, bringing 713,013 people back into the system, amounting to more than 60,389 million baht, from conflicts in foreign countries. The BAAC has issued measures for repatriating labor loans. Thai To help farmers and family members affected by the unrest in Israel for repayment of original debt From borrowing money to work in Israel and investing in a new career. As for farmers affected by the problem of illegal pig importation, BAAC has im plemented measures to restore the potential of pig farmers. Through loans to build your dreams and create a career, each amount does not exceed 100,000 baht. Including granting loans to promote and develop the contract farming system. To cover investment expenses and repay existing debt, not exceeding 20 million baht each. There are 11,016 farmers who have benefited, over 2,782 million baht, from the loan project for you. To help farmers and customers aged 60 years and over, by allowing heirs to participate in resolving debt in a sustainable way. 3,433 million baht in loans has been disbursed, with more than 3,687 farmer heirs joining the project. Recently, the BAAC committee agreed to create a quick loan project for good people with a total credit limit of 10,000 million baht for personal consumption expenses for village village health volunteers and a loan not exceeding 20,000 baht per person. baht, charging an interest rate of 0.67 percent per month or 8 percent per year. Loans can be started within Apri l 2024 onwards. Source: Thai News Agency