Damascus-Sana
The Local Production and Export Support and Development Authority announced the inclusion of the yeast industry in the "loan interest rate support" program, with the aim of encouraging the establishment and rehabilitation of yeast industry factories to meet the needs of the local market.
The Director General of the Authority, Thaer Al-Fayyad, stated in a statement to the representative of SANA that the inclusion of this new activity in the support program comes as a continuation of the implementation of the government program related to substituting imports, pointing out that targeting the yeast industry to encourage those who wish to establish a new plant or rehabilitate his plant anywhere in the governorates or in industrial regions and cities .
Al-Fayyad indicated that the authority will support the interest rates of the project loan at a rate of 7 percent of the loan interest determined by the bank in the event that the loan is directed to establishing and rehabilitating factories, purchasing machinery and equipment, and financing working capital, while not including in the event that it is to buy land for the project, pointing to the existence of a set of conditions. For each loan.
The Director General of the Authority stressed that the period of implementing the new plant and starting production should not exceed three years from the date of obtaining the loan, and two years in case the loan is to rehabilitate the plant.
