Bangkok — State banks have pledged to 2 Provide billions of baht in loans to support rubber farmers and rubber processing companies amid rubber export growth this year 5 percent is expected. At the 31. A cooperation agreement between nine agencies in support of the rubber industry was signed at the Ministry of Finance on May 12. Signatories included the Thai Chamber of Commerce, Krungthai Bank, Bank of Agriculture and Agri-Cooperatives, Thai Credit Guarantee Corporation and Export-Import Bank of Thailand.
Under the terms of the agreement, the nine financial institutions will support all players in the rubber industry by providing loans and comprehensive information to improve business opportunities and open up new export markets. It also aims to improve the quality of life of rubber farmers and ensure that rubber product manufacturers comply with the principles of the circular bio-green economy model.
Finance Minister Arkhom Termpittayapaisith said the loans would support the industry at different stages, from the rubber farmers to the latex processing plants to the factories that make rubber products. The memorandum aims to give the companies access to information and opportunities to add value to their rubber products and enable Thailand to compete sustainably in global markets.
Rubber exports currently total 680 billion baht a year and employ nearly 6 million people in rubber production 18 million acres of land. The Thai National Shippers Council (TNSC) has an increase in rubber exports 5 Percent predicted, although exports of other commodities are expected to fall this year. (NNT)
2023-06-04 12:09:30
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