Loan scheme
The Nation May 26, 2012 7:43 pm
Under the scheme, farmers are offered lower interest rate and maximum installment payment period of eight years. Siam Kubota is a major agricultural tractor manufacturer.
Signing the memorandum of understanding on May 24, BAAC President Luck Wajananawat said that this is a substantial cooperation. Having their own equipment will help lessen their financial burden as well as increase productivity.
BAAC will offer two types of loans under the scheme.
1. For the procurement of agricultural equipments, machines and vehicles as well as appendix equipments such as tractors, combine harvesters, rice transplanters, paddy threshing machines, maize threshing machines, agricultural machines, engines, and transporting trucks.
2. For the refinancing of their outstanding loans, obtained for the procurement of such equipments.
Farmers will win loans worth 80-100 per cent of equipment value and have to repay loans in 8 years.
Hiroshi Kawakami, president of Siam Kubota, said that this campaign coincides with the company?s policy to drive Thai agriculture forward sustainably by introducing new technology, knowledge and agricultural know-how to reduce cost and increase productivity.
"This will help elevate the status of Thai agriculture to thrive amidst the competitive environment, especially in the upcoming Asean Economic Community (AEC)," said Suksri Punyakorn, managing director of Siam Kubota Leasing.
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