Thailand Bank for Agriculture and Agricultural Cooperatives dispatch 9 delegations to study visits in VBSP

(VBSP News) From 26th February to 14th March 2014 the Bank for Agriculture and Agricultural Cooperatives (BAAC) has sent 9 delegations, with 35-37 representatives in each delegation to the Vietnam Bank for Social Policies for study visits.

The Bank for Agriculture and Agricultural Cooperatives (BAAC) is a state enterprise of Thailand under the jurisdiction of the Ministry of Finance. Its primary objective is to enhance social and economic well-being of Thailand’s farming population through financial services in the form of loans for agricultural production, investment and marketing. The bank is said to play significant roles in boosting rural economy; creating jobs and value addition along the agricultural supply chain in Thailand. According to the statistics of BAAC in 2012, the bank has covered a total of 7.27 million farm households or 95 % of total farm households in Thailand with total assets of 1.18 trillion Baht or US$ 39 billion with loan outstanding of 949 billion Baht or US$ 31 billion, 19,922 officers and staff in 77 provincial offices and 1,118 branches throughout Thailand. Thus, it can be said that BAAC has been and will remain a key player in rural finance in Thailand.

This is not the first time BAAC visit VBSP for study purpose. In December 2012, four delegation comprising managers of branches in BAAC visited VBSP to learn about VBSP operation and lending to SMEs. The visits were reported to be fruitful and interesting by BAAC.

In 2014, BAAC decided to send others nine delegations to VBSP. Each delegation has 35 to 37 members who are directors, managers and some outstanding staff of BAAC from different regions of Thailand. From 26^th February to 14^th March 2014, the nine delegations have learnt about operation of VBSP and details on lending programs of VBSP to the poor, minor ethnic groups, SMEs and job creation. They also had chances for field visit and directly interview with clients of VBSP who are farmers or owners of micro and small enterprises in suburb of Hanoi.

BAAC delegations have shown their impression with VBSP’s growth to become one of the largest MFI services providers in the world within 10 years of operation and with the way VBSP goes along with its clients who are the poor and social beneficiaries.

Some photos of BAAC delegations in VBSP:

Seminars between BAAC and VBSP in the VBSP Headquarters 

                  BAAC delegation paid field visits to VBSP clients