Lebanon: $15m for Farmers from USAID
According to the US Agency for International Development
(USAID), Lebanese farmers will benefit from a $15m loan provided
by American banks and guaranteed by the US government.
As part of the scheme, cattle farmers will be able to purchase 800 cows
imported from the US.The farmers will initially pay 20% of the
estimated $1,800 price of each cow and pay the remaining amount at
an interest rate of 7%with a six-month grace period.
In addition,the American University of Beirut (AUB)will receive a separate grant of
$430,000 in order to import the cows and train farmers on how to
handle them at its farm in the Bekaa.– (Banque du Liban et d’Outre-Mer)