Thailand Business News

Seven million Thai farmers receive 5000-baht subsidies



BANGKOK (NNT) – The Bank for Agriculture and Agricultural Cooperatives (BAAC) has transferred subsidies to 7.1 million farmers and accelerated correction of incorrect bank account details of 214,000 farmers.

Mr. Somkiat Kimawaha, BAAC assistant manager, said at the end of May, 5000-baht subsidies, worth 35.51 billion baht in total, have already been transferred to 7.1 million farmers according to the database.

Meanwhile, there are 214,189 farmers who have not received the subsidy, because their registered bank account information was incorrect. Therefore, the BAAC urged those farmers to open new bank accounts, resulting in a sharp decrease in the number of farmers whose bank account information was incorrect.

The BAAC is able to transfer money to one million farmers a day. It is ready to transfer subsidies for June, once it receives the required information from the Ministry of Agriculture and Cooperatives.



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