World Bank guarantees support farmers
The article details the new financing program launched by the World Bank through the "Kafalat" institution, aimed at supporting small and medium-sized enterprises in Lebanon's agricultural food sector. The program seeks to rebuild trust between banks and farmers, stimulate investment to create jobs, increase local production, and enhance export capacity, especially given export opportunities worth over $450 million. The program allocates $47.6 million for low-interest loans to finance equipment, quality certificates, and export requirements, targeting around 390 companies and farmers. The interest rates range from 7 to 14 percent, with collateral backed by mortgages. The goal is to strengthen food security, reduce dependence on imports—since Lebanon imports about 80% of its food needs—and achieve more inclusive and sustainable economic growth.
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