Key Takeaways
- BAAC, in partnership with GIZ, launched climate-smart subsidies and low-interest loans totaling over USD 164 million.
- The program targets around 40,000 rice farmers across 21 provinces between 2023 and 2028.
- Financial mechanisms include direct incentives and preferential loans to support climate-smart rice farming.
- The initiative aims to reduce greenhouse gas emissions while improving farmer resilience and incomes.
- The program is part of the Thai Rice GCF Project, supported by international and national partners.
BAAC Introduces Climate-Smart Financial Mechanisms for Rice Farmers
The Bank for Agriculture and Agricultural Cooperatives (BAAC), in collaboration with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), has launched climate-smart subsidy and low-interest loan schemes under the Thai Rice: Strengthening Climate-Smart Rice Farming (Thai Rice GCF) Project.
The combined budget exceeds THB 5.3 billion, equivalent to approximately USD 164 million, and is designed to support Thai rice farmers in transitioning toward low-emission, climate-resilient farming practices.
The initiative was officially announced by Mr. Paisan Hongtong, Senior Executive Vice President of BAAC, during an event co-organised with GIZ in Bangkok.
