The implementation rate of 150% .. The Agricultural Bank provides loans of about 279 billion pounds
The Agricultural Cooperative Bank continued during the year 2019 the implementation of its production plan by financing the purchase of production requirements for seeds and fertilizers and achieved remarkable growth in the size of credit facilities, which positively reflected on the increase in cultivated areas, especially strategic and main crops.
Ibrahim Zidan, the bank’s general manager, stated that the financing of investment and development projects has been resumed with medium and long-term credit facilities, which contributed to the stability of agricultural product prices, securing basic citizens ’needs at reasonable prices and alleviating the burden of import.
In the field of lending, Zidane explained that the total loans planned for the current year amount to 186 billion and 100 million Syrian pounds, of which 50 billion pounds for agricultural loans, 100 million for loans for the national project for modern irrigation and 136 billion pounds for loans granted to public sector bodies, pointing out that the loans granted until November amounted to about 279 billion pounds, the implementation of 150 percent.
The loans granted were distributed on agricultural loans with more than 13 billion pounds for the bank until the 15th of this month, loans for the General Corporation for Propagation of Seed by 10 billion pounds, for the Syrian grain by 200 billion pounds, for the General Feed Corporation with more than 43 billion pounds, and for the General Organization for Ginning and Marketing Cotton by 12 billion pounds.
Zidan pointed out that the collections of agricultural loans amounted to 9 billion and 772 million pounds, indicating that the value of deposits exceeded 68 billion Syrian pounds, including more than 58 billion pounds of demand deposits, 927 million pounds of term deposits, more than 9 billion pounds of savings deposits, and 62 million Pounds frozen accounts.
The Board of Directors of the Agricultural Cooperative Bank announced last September its approval to resume financing loans for the purchase of modern irrigation networks through the national project to convert to modern irrigation.
