February 28, 2013 -
In an event at the Association des Banques au Liban, gathering representatives from all Lebanese banks, and with the participation from Representative of the Delegation of the European Union to Lebanon, and of the Counsellor of the Minister of Agriculture, Kafalat SAL introduced three new programmes intended to facilitate financing in three fields: Innovation, Agriculture and Energy.
Kafalat Start-ups & Innovation is the result of a EUR 3M grant from the EU, which will enable Start-up companies and Innovative enterprises incorporated as SAL to benefit from loan guarantees of 85% and 90% for loans up to LBP 650M.
Kafalat Agriculture is the result of a EUR 3.5M grant from the EU to the Ministry of Agriculture, and is implemented in the framework of the ARDP (Agricultureal and Rural Development Programme) funded by the EU and executed by thh Ministry of Agriculture. The programmes facilitates access to finance to Small Agriculturalists by waiving additional collateral requirements for loans up to LBP 65M. In addition in facilitates financing of Tree plantations by increasing loan duration to 10 years including a 3 years grace period for loans up to LBP 480M.
Kafalat Energy is the result of a EUR 2.5M grant from the EU, for investments in Energy Eficiency and Renewable Energy. The fund will enable increasing loan duration to 10 years for Energy Efficiency investments, and to 15 years for Renewable Energy ones. In addition, borrowers might benefit from a 5% grant made available by the EU through Banque du Liban.
For furhter information on the new programmes, please refer to corresponding pages on our website.