👉 Farmers will have to pay 50% of the principles by 2025.
👉 Once that is done, the rest of the principle and interest will be cancelled.
👉 All farmers who participate in this program need to take part in a transition program
Here is an update from the field #FarmerProtest 🕵️♀️
🎉🎉WE DID IT🎉🎉
1. The Cabinet gave the green light to restructure the debt of 4 state banks for 50,621 members, with a total debt of more than 9.2 billion THB 🥳
We spent past 2 days talking to multiple farmers at the protest for the past 45 days⛺️ Here are what we have learned -- read more below👇
#farmerprotest#ม๊อบชาวนา#Bangkok
Here are major reasons why many farmers fall into the cycle of debt👇
1. The increasing cost of chemical fertilizers, chemical pesticides, labor cost, electricity, and oil
2. Most farmers rely on middleman as their sole market who gives extremely low price