중앙데일리

Plan for Mitigating Farmers" Debt Burden Reached

Oct 14,1998
The government plans to allow farmers who borrowed money from state-owned financial institutions to postpone repayment for two years. Without the plan they would have had to start repaying the money this month and finish by December 1999 .
The government will also lower the loan interest rates for farmers by 2 percentage points from next month.
The Ministry of Agriculture and Forestry will officially finalize the plan by next week.
In addition, the Ministry plans to lower interest rate on special supporting loans for farmers from the current 6.5% annually to 5.0%.


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