Financing Deals Signed to Boost Modern Irrigation

The current edition of the Damascus International Fair witnessed the signing of several memoranda of understanding and agreements between the Ministry of Agriculture, the Agricultural Cooperative Bank, and specialized agricultural financing companies. The agreements aim to help farmers access modern agricultural production requirements, particularly drip irrigation systems and related technical equipment.

Content of the Agreements

The signed agreements focus on providing flexible installment options and financing facilities for farmers, covering tractors and agricultural equipment as well as modern irrigation systems, through cooperation between the Ministry of Agriculture, the Agricultural Cooperative Bank, and several specialized companies in this field.

Role of the Agricultural Cooperative Bank

The Director General of the Agricultural Cooperative Bank, Dr. Ahmad al Zahri, stated that these agreements will activate the work of the bank's branches nationwide. He explained that the bank's role is limited to organizing loan applications according to approved regulations, obtaining sufficient guarantees to ensure loan recovery, and following up on collection according to the bank's operating instructions.

Goals of Institutional Cooperation

This initiative aims to strengthen institutional cooperation to facilitate farmers' access to the latest agricultural production requirements and technologies, particularly drip irrigation networks and related technical equipment, through financing facilities implemented in cooperation with the Agricultural Cooperative Bank.

Link to Agricultural Investment Projects

These financing steps are part of investment and development projects led by the Ministry of Agriculture, which include expanding the use of modern irrigation techniques, rationalizing water consumption, and preserving natural resources, alongside reducing financial and administrative burdens on farmers.

• Agreements signed between the Ministry of Agriculture, the Agricultural Cooperative Bank, and specialized agricultural financing companies
• Focus on providing drip irrigation systems and modern technical equipment for farmers
• Flexible installment options and financing facilities to overcome financial obstacles
• Aim to improve agricultural production efficiency and rationalize water and natural resource use