AGRICULTURE
Govt bootsts farmer credit card benefits
The Finance Ministry has added more benefits to credit cards for farmers as it prepares to issue 2 million more cards as part of the project’s second phase.
Deputy Finance Minister tanusak Lekuthai said farmers can now use the credit cards to purchase consumer goods such as rice as wellas farm supplies.
Under the scheme’s firs phase,the cards were restricted to the purchase of fertilizer,seeds,pesticides and fuel from participating suppliers.
Mr Tanusak said the annual interest rate has also been from 7% to 1.5% and new members will be given a five-month interest-free period.
The farmer credit card scheme aims to provide easy lines of credit for farmers to buy suppluies as most are unable to borrow from banks.
Mr Tanusak said the ministry expects to issue 2 million new cards in the second phase, which was launched on July 14.
The first phase of the project, which was launched in July last year,saw about 2 million cards with atotal credit line of 43.66billion baht.
Mr Tanusak said those with good credit records are eligible to seek emergency loans of up to 50000 baht.
The ministry plans to increase the number of participating suppliers from 4000to 10000 by year’s end, he said.
Other benefits include free annual medical check-ups at state hospitals, he said.