BAAC announced a maximum one-year extension of debt repayment for customers affected by floods in the North to reduce concerns about debt burdens. It has also assigned branches in the area to provide relief bags to alleviate their suffering and provide liquidity loans for emergency expenses to prevent problems with informal debt. Mr. Chatchai Sirilai, President of the Bank for Agriculture and Agricultural Cooperatives (BAAC), revealed that the flood situation in the northern region, especially the latest incident in Chiang Rai and Chiang Mai provinces, has caused widespread damage to agricultural products, houses, and public properties. BAAC is concerned about those affected, so it has assigned BAAC staff in the area to visit customers and provide relief bags to alleviate the suffering of the general public in the area. For farmers who have suffered hardship and whose produce has been damaged, affecting their income, but are still in debt with BAAC, there is no need to worry. BAAC is ready to postpone debt repayments for up to 1 year without interest to alleviate their hardship. Customers can notify their intentions at their local branch from now until December 31, 2024. In addition, for areas declared disaster zones by provincial governors, there are still measures to restore and enhance farmers' liquidity through: 1) Emergency Expense Loan Project 2024/25 to enhance farmers' liquidity in terms of general expenses, such as necessary utilities and consumption, 0% interest rate for the first 6 months, MRR interest rate for the 7th month (currently MRR is 6.975 percent), not exceeding 50,000 baht per person, and 2) Loan Project to restore and develop the quality of life for investment in repairing houses and property, repair costs for damaged agricultural tools and equipment, and expenses for a new round of farming, not exceeding 500,000 baht The bank is ready to provide full care and assistance. After the water recedes, we will survey the damage of customers to gather information to plan a specific assistance plan. Farmers who have been affected by the disaster can inform their intentions from today onwards at all BAAC branches nationwide or ask for more details at the Call Center 02 555 0555 24 hours a day. Source: Thai News Agency