The Thai government is preparing to issue bonds worth up to 100 billion baht (3.1 billion USD) in a bid to raise funds for the debt-plagued rice support programme, according to the National News Bureau of Thailand.

Thai Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong has given assurances that some of the unpaid farmers will receive money for their pledged rice next week as the government is ready to issue bonds to mobilise money for rice fund.

During his negotiations with leaders and representatives of farmers, the Deputy Prime Minister promised immediate payments.

According to him, the state-owned Bank for Agriculture and Agricultural Cooperatives (BAAC) will launch the first batch of bonds on February 27.

The bond issuance will expire within 6 months to one year at an interest rate of 2.75-3 percent, according to Kittiratt.

On February 13, the Thai government auctioned 220,000 tonnes of rice in an effort to raise funds for the rice support programme.-VNA