Khaberni - The value of the loans granted by the branch of the Agricultural Lending Corporation in the Northern Badia since the beginning of this year reached 3 million and 183232 dinars, benefiting 537 borrowers, according to the branch manager, Engineer Hamada Al-Sharafat.
Al-Sharafat said on Monday that the branch exceeded the allocated lending amount by about 80,000, pointing out that the ready lending transactions are expected to increase by the end of this year, according to Petra.
He added that the lending programs adopted in this year's lending policy have concluded except for feed loans, which are of major importance as the inhabitants of the Northern Badia are among the most dependent on livestock in the kingdom, pointing out that there is another lending program in partnership with some global companies, worth 25,000 dinar, to loan farmers to protect trees and fruits from insects and agricultural pests, in addition to protecting their water sources from evaporation.
Al-Sharafat explained that the diversity of lending programs approved by the management of the institution to enable borrowers to create and develop agricultural projects, has contributed significantly to the rise in lending rates, which increased by more than 100 percent compared to the same period last year, pointing out that the branch has enabled many borrowers to establish exemplary agricultural projects in the Northern Badia and to develop and modernize projects established several years ago.
