Word: fongkraew
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Dates: during 2003-2003
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...success so far may be reviving the debt-laden rural economies. In the farming town of Bahn Rong Kong Khao, near the city of Chiang Mai in the country's north, the government's $2.3 billion Village Fund program, a microlending scheme, is a mini miracle, say residents. Narong Fongkraew, 50, who grows rice and chilies on his small farm, credits the Village Fund with saving not just his farm but the whole community. "After 1997, banks stopped lending to us and some people were forced to borrow from moneylenders who charged high rates of interest," he says. Recently, Narong...
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