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CBS launches program to finance 31 agricultural and industrial projects

June 3, 2022

DAMASCUS, Jun.2, (ST)- The Commercial Bank of Syria has launched a program to finance 31 small and medium “agricultural or industrial” projects with subsidized interest rate and the guarantee of the Loan Risk Guarantee Corporation (DAMAN).

The program, which was published by the bank on its Facebook account, included the following agricultural projects: dairy and cheese factories, dairy products, poultry houses, beef and vegetable seed propagation, Awassi sheep and Shami goats farms, sheep fattening farms, and the establishment of laboratories for the propagation of agricultural mushroom seeds.

While the industrial projects included in the financing program are: projects for the production of renewable energy supplies and equipment, the manufacture of threads, the manufacture of knitted fabrics, dyestuffs, the automatic textile industry, the manufacture of lighting devices, the construction, operation and restoration of facilities for the manufacture of medical tools and devices, and the manufacture of Formica panels.

The industrial projects also include: The manufacture of aluminum, paper, starch, artificial diameter, factories for the production of modern irrigation requirements, glass panels, inverters, batteries of various kinds, machinery and production lines, household equipment, the packages, ceramics, marble, granite, adhesive cement and feldspar.

According to the Syrian Arab News Agency (SANA), the project aims to support the production process and provide an added value to the economy by enabling these projects to play their role during the current stage, foremost of which are projects for the production of renewable energy supplies and equipment.