January 17, 2008

Thai agricultural bank offers US$330,000 in loans to shrimp farmers

The Bank for  Agriculture and Agricultural Cooperatives (BAAC) and Thai Shrimp Farmers Association, disclosed that a 10 million baht (US$336,282) loan would be offered to Thailand's shrimp farmers.

The Cooperatives Development Fund will subsidise the three percent per annum interest rate, and help farmers in promoting shrimp export. 

To help lower production costs, the bank is also issuing credits to farmers.

More loans and credits are coming up for Thailand's shrimp farmers, who have been hit by the double-whammy of increased restrictions from foreign export markets and a rising baht.