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Byline: The Nation.
Collecting premiums from farmers for the newly launched insurance scheme against drought will be a challenge, Bank for Agriculture and Agricultural Cooperatives president Luck Wajananawat said yesterday.
The BAAC and Sompo Japan Insurance (Thailand) signed a memorandum of understand on Monday evening to officially launch the insurance scheme for rice farmers, also known as Weather Index Insurance.
Luck said the bank expected 1,000 rice farmers in Khon Kaen to join the scheme after the bank started the pilot project last year. Last year, 276 farmers participated in the scheme free of charge.
This year, the scheme is available …