BML launches the milking cow program

As part of its small loan project aimed at the empowerment of farmers in rural areas, the Banque Misr Liban BML in Amiq, West Beqaa, launched yesterday the ‘productive cow loan’ to encourage cow breeders to increase their income. On the occasion, BML general director, Fadi Daook, disclosed that the purpose of the new loan is to reconnect with Lebanese farmers in remote areas, noting that the bank has since its inception in 1929 contributed to rural development through its 18 branches across Lebanon. It should be noted, that the productive cow loan is an integrated program made possible with the collaboration of the Entrepreneurial Development Foundation (EDF) and the Ministry of Agriculture. The program provides for the medical follow up of cows and at the same time, will grant the beneficiary farmer a 4-month grace period before repayment and this until the cow begins producing milk. Furthermore, and according to the new programme, each milking cow is estimated to generate the equivalent of LBP 250,000 in net profit per month. (Al Diyar, April 20, 2016)