UN 58-mll. dlr. fund for agricultural project in Syria
A new UN Int'l Fund for Agricultural Development 58-million US dollar project in Syria will create employment opportunities and reduce water shortages for about 190,000 poor rural families living in the north-eastern provinces of Deir Ezur, Hassake and Ra
With a rapidly increasing population, the three provinces are suffering from diminishing water supplies, decreasing agricultural production and growing unemployment, the statement said.
"The project will help small farmers to manage their resources sustainably and launch small businesses," said Hamid Abdouli, IFAD's country programme manager for Syria.
"We will address the severe water deficit and promote microfinance, microenterprise development, marketing, and partnerships with the private sector."
The project will help local communities form farmers' and craftworkers' marketing associations. It will also help small farmers to modernize old and inefficient irrigation systems and to establish sustainable water users' associations.
The project will provide credit and advice to help young entrepreneurs develop business plans. It will also help the Savings Bank of Syria establish a sustainable microfinance system for poor rural people.
The interest earned from depositing IFAD's loan in Syria's Savings Bank will be used to cover the cost of technical assistance for the development of community-based associations.
With this project, IFAD will have financed seven projects in Syria for a total of commitment of 120 million dollars. Last Mod: 15 Haziran 2007, 16:42