BAAC offers savings certificates worth 50 billion baht

BANGKOK, March 20 (TNA) - The Finance Ministry’s Bank for Agriculture and Agricultural Cooperatives (BAAC) has launched Thai Orchid Series of savings certificates, amounting to 50 billion baht, of which sale proceeds will be spent on Thailand’s agricultural sector. Luck Wajananawat, president of BAAC said sales of savings certificates totalling 100 million units with each having value of 500 baht have begun nationwide since last Friday. He said maturity of the savings certificates is three years with prizes issued on the 16 of every month for a total of 36 months. The first prize offers as much as 20 million baht. BAAC has also offered loans to 10 orchid growers who are the bank’s customers under the ‘One Tambon One SME” programme. Loans in total of more than 100 million baht were extended to the borrowers. (TNA)