The new Agricultural loan will be offered  by Fransabank to farmers whose age ranges from 21 to 64, with facilitated requirements, in close coordination with the Ministry which will participate in the program through providing farmers with free of charge consultation and guidance assistance for executing projects.

Provided in the Lebanese Lira, the loan amount provided can range from $1,500 to $17,000, with a three months to 48 months repayment period, and a grace period of three months, Fransabank said.

The loan will be eligible for farming businesses dealing with planting of fruits and vegetables, poultry, bee raising and production of honey, livestock and fishery, manufacturers of agricultural products, and plant and animal foodstuff businesses.

The Minister of Agriculture, Hussein Haj Hassan, said that “the protocol is part of the plan to transform the agricultural sector from conventional to an active and a productive sector regulated by market conditions, playing a key role in the local business environment.”

Hassan said he hopes this loan plays a role to improve living conditions of farmers, and middle and low income people- working in this sector which is a major contributor to the GDP, characterized with a high productivity and good quality.

The General Manager of Fransabank, Adel Kassar said he hopes this initiative would be generalized and adopted by the other local banks. “We hope this loan will contribute to the success of the Ministry’s five-year plan,” he said.