Agricultural Bank: about 16 billion pounds value of fertilizer sales in 11 months

Damascus-Sana

The Agricultural Cooperative Bank continued to provide production requirements and fertilizers for farmers in safe areas, where the value of fertilizer sales - super phosphate, urea, nitrate, ammonium nitrate and potash sulfate reached 15 billion and 896 million Syrian pounds, since the beginning of last year and until the end of November in quantities estimated at more than 99 thousand tons.

According to the most recent report issued by Al-Zeraei, Sana received a copy of it last year, the bank added a number of goals to its operations system as medium and long-term loans, as well as canceling the ceiling for loans so that the ceiling is determined based on the financial solvency of the loan applicant and according to the nature of the project and the purpose to be funded and the guarantee provided in order to develop His work and meet the needs of farmers and agricultural projects across lending.

The goals added by the bank’s board of directors were to “construct green houses, purchase solar electric renewable electricity generation equipment, purchase tractors and combine harvesters, purchase equipment and equipment for agricultural and veterinary pharmaceutical laboratories and vaccines, and expand construction, restoration and renovation of existing poultry equipment and equipment.”

In a statement to the SANA Economic Bulletin, the bank’s general manager, Ibrahim Zaidan, confirmed that the bank’s board of directors also added new goals last year to all the projects targeted for financing by the National Fund for Social Aid and the bank within the micro-projects methodology and the program to support the demobilized from the science service who want to take advantage of loans to establish Their projects, in addition to adjusting the financing rates mentioned in the need schedules in proportion to the actual production costs for all the specified goals.

Zidane indicated that the Board of Directors approved the executive instructions and accounting entries for the framework agreement signed between the operating banks and the Ministry of Economy and Foreign Trade represented by the Export Development and Promotion Authority to support the interest rate for a set of programs, including operating licensed and suspended and damaged poultry.

Wasim Adawi