Approval of the launch of four banking products to ensure project financing

Damascus-SANA

The Board of Directors of the Loan Risk Guarantee Corporation announced its approval to launch four new banking products through the Corporation, which are to guarantee the risks of loans for agricultural and industrial projects, renewable energies, and loans for crafts and workshops.

The Director General of the Foundation, Dr. Qais Othman, said in a statement to SANA reporter after the meeting of the Ordinary General Assembly of the Foundation’s Board of Directors in Al-Jalaa Sports City today that there are dozens of various projects that fall within the mentioned products offered by the Foundation to those wishing to establish their projects and those applying for financing to public or private banks.

The Corporation has previously signed work agreements with 4 public banks and 6 private banks to guarantee loan risks, according to what Othman confirmed, pointing out that the credit managers of these banks were asked to provide the Corporation with requests for financing loans to guarantee their risks.

The Corporation also launched its new website, which aims to market the Corporation’s products and includes detailed information about them and the conditions for guaranteeing loans and banks to which borrowers can apply for financing, according to Othman, who stressed the Corporation’s keenness to cooperate with the Chambers of Industry and Agriculture, cities and industrial zones to see the need of markets and meet the requests of industrialists and project owners.

Othman pointed out that the Foundation is currently working on automating all its work and designing a technical program to facilitate dealing with financing requests submitted by owners of small projects so that they can be studied and decided on whether to guarantee the risks of these loans or not.

It is noteworthy that the Board of Directors of the Corporation announced last September about its first products represented in guaranteeing the risks of financing granted by public and private banks to establish small projects in industrial areas.

Waseem Al-Adawi

Follow Sana's news on Telegram https://t.me/SyrianArabNewsAgency