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September
Manila , Philippines, Sept 20 – 26: CENTRAB Study Visit on Microfinance: Challenges, Risks and Expectations
New Zealand, Sept 13 – 17: CENTRAB-Lincoln University (NZ) Study Visit: A Closer Look into New Zealand’s Rural Economy and Banking System
Lucknow, India, Sept 6 – 8: CENTRAB-NABARD Study Visit on Financial Inclusion
   
   
 
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COMPLETION REPORT Regional CEO Policy Dialogue Forum on The Impact of the Global Financial Crisis on Key Rural Finance Stakeholders More
 
 
 
 
 
 
 

 
Financial Innovation and Marketing Linkage 

BAAC’s History

Bank for Agriculture and Agricultural Cooperatives (BAAC) was founded to replace the former Bank for Cooperatives under the enabling act of 1966 as a government-owned financial institution to enhance agricultural production through the provision of financial services to farmer. It has steadily developed as a major agricultural financial institution in the rural area with the support of the government and international donor agencies. Now it is recognized as one of the few successful examples of the Specialized Financial Institutions (SFIs) in Thailand as well as agricultural development banks in Asia and the developing world.
 
As of 2008, BAAC had an extensive rural network of 75 provincial offices and 962 branches through out the country which provide services not only financial services but also uplifting quality of life of people in rural areas. BAAC has shown its achievement on maximizing outreach to millions of farm households as its target clientele and at the same time maintaining its financial viability and the sustainability of its operations and services.
 

BAAC, like other Specialized Financial Institutions (SFIs), was established by acts of Parliament and owned by the Thai Government. It was originally established to achieve certain government policy objectives, such as promoting loans to farmers. However, its activities have been expanded to cover commercial banking services as taking deposit from general public, which made up the biggest source of BAAC operating fund. According to the enabling act, BAAC’s mission is to provide financial assistance to farmers, farmer associations and agricultural cooperatives. In addition to the new law amendment BAAC can expand its service to individuals, group, entrepreneurs, village funds and communities, organizations established with objectives to support farmers or communities and all kinds of cooperatives for the following purposes:

  • To undertake farm, farm related and non-farmed activities 
  • To undertake other activities to increase income
  • To develop agricultural knowledge to increase income or to improve quality of living of farmers or their families
  • To invest in ventures intended to promote or support agricultural activities to increase income or improve quality of living.
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