Thai government to accelerate bank borrowing to make rice payments to farmers


  • World
  • Friday, 30 May 2014

BANGKOK (Reuters) - Thailand's finance ministry said on Friday it would invite banks to offer terms for 50 billion baht ($1.5 billion) in loans on June 3, earlier than planned, so it can pay rice farmers who have waited months for money owed under a state buying scheme.

The plan has been pushed forward due to faster-than-expected payments to farmers since a military government took power on May 22, Chularat Suteethorn, head of the ministry's public debt management office, told reporters.

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