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The Service of the Co-operative & Agricultural

Date: 11/8/00
Time: 2:32:09 AM
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The Service of the Co-operative & Agricultural Credits' Bank, Aden Branch, for the period 7/7/94-7/7/98

Following the directions of President Ali A. Saleh in giving the best possible considerations to the two sectors of Yemen's population- the farmers and fishermen-as they constitute 60% of the Yemeni labor force, the Co-op. & Agricultural Bank of Credit's Branch of Aden is exerting the biggest efforts of providing its services and/ or facilities.

For focusing the lights on the efforts and activities of the Bank's branch operating in Aden province for the last four years (7/7/94-7/7/98), the Bank provided 2700 loans and credit facilities of a value that amounted 758,982,000 Yemeni Rials. Beside, the Bank distributed to the farmers/ peasants 33 field tractors costing 539,659,000 Y. rials on one hand, and 751 boats for the fishermen on the other hand, coasting 475,234,000 Y. Rials.

This information have been lately stated by the General Director of Aden's branch of the Co-operative & Agricultural Bank of Credit Mr. Issam A. Rehman A. Khader. He further indicated on the facilities provided by the Bank to the farmers. These have been represented mainly in the tractors loans, and including:-

-loans for the irrigation units/ sectors;

-loans for reclamation of the agricultural lands; -loans for enrichment of the cattle (body-fattening); -loans for increasing the land-area for fruit plantation; -loans for poultry breeding and enrichment (body-fattening); -loans for educating the rural house wives; -loans for maintenance and repairs of the agricultural machinery, and -loans for the operation costs.

As for the loans and credit facilities that were issued for the fishermen during the same period above-mentioned, these mainly included:- -payments of the boat engines that may have different ranges of horse- power's-motors; -value of the fishing boats that have alternate ranges of volumes and/ or space capacities; and -loans for purchase of the necessary fish tools, attachments and accessories e.g. fishing nets.

The General Director also explained that on all loans granted to both sectors, i.e. the farmers and fishermen, only easy and convenient terms of payment have been imposed. As most loans were taken on shor-term basis, their interest rates fluctuated between 5 to 7%. Others were also taken on medium-term basis, and have their rates fluctuating between 7 to 9% only. Thus, the Bank's branch has been operating generally for the interests of those two important sectors of the labor force. It secured for itself a big advantage due to the fact that such fishing and agricultural projects-no matter how big or small they could be evaluated- have represented a certain value to the national economy, and thus deserved to be granted these loans on easy term-basis! _____________________________ Source: Al-thowra newspaper, issue No. 12341 of 26/8/98.

Last changed: September 15, 2002