BANGKOK(NNT) - The Department of Livestock Development has joined forces with the Bank for Agriculture and Agricultural Cooperatives to offer a special 0.01 percent annual interest loan to livestock farmers, aimed at helping increase the capacity of the Thai livestock sector, and help with disaster mitigation and low farm product pricing.
A Deputy Minister of Agriculture, Praphat Phothasoothon has presided over a signing ceremony of an agreement on financial support for livestock farming promotion and related activities, between the Department of Livestock Development and the Bank for Agriculture and Agricultural Cooperatives (BAAC).
The campaign will offer special loans to cattle, pork, goat meat, and local chicken farmers and related businesses, to a total of 50 billion baht. Applicants will receive loans according to their business plans, with 0.01 percent annual interest.
It’s expected this campaign will help increase income among livestock farmers by 40 percent. Applicants must be farmers, community enterprises, agricultural institutes, or corporations.
The livestock department will be offering guidance and guidelines on the types of livestock being accepted in this campaign, as well as disease prevention, animal health, and farm standard regulations. The department and BAAC anticipates having some 10,000 clients in this campaign.