Banks offer loans for rice scheme

Several commercial banks have expressed interest in providing loans to the caretaker government to pay farmers for their pledged rice, caretaker Finance Minister Kittiratt Na Ranong said on Tuesday.

The government is ready to sign the loan agreements immediately once the banks propose suitable lending rates, he said.

After the signing of loan agreements, farmers with invoices for pledged rice would receive the full amount of payments owed them as stated in their invoices, he said.

Mr Kittiratt asked rice growers suffering because of the delayed payments to understand the difficulties faced by the government. He insisted that the government has every intention to help farmers.

The minister said both the Election Commission and the Council of State had agreed that the caretaker administration has the authority to acquire loans for its rice scheme and that it would not be a violation of the Article 181 of the charter.

Share your thoughts

Discussion 1 : 12/02/2014 at 09:51 AM
Even if they get the loans,the gvt would still add to his debts....Ok the farmers will get paid for their last crops...but whatabout the very next ones ?? How will they get the money to payback the Banks and the new crops if nothing is done to fix the problem ?
Discussion 2 : 11/02/2014 at 07:01 PM
Not long ago the banks didn't show any interest. What made them change their mind? Did they change their mind or is it just another white lie?
Discussion 3 : 11/02/2014 at 05:09 PM
which banks might these be? Or is it a state secret?
Discussion 4 : 11/02/2014 at 04:17 PM
The banks will offer suitable lending rates just as soon as the risk attached to these loans reaches suitable levels.
Discussion 5 : 11/02/2014 at 02:54 PM
This is the first step towards the final breakthrough both for the caretaker government and the farmers awaiting rice payments. Happy to read this news.

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