He also asked the Cooperation Department to convert the short term loans of the flood-affected farmers into medium-term loans
. He has directed the Registrar Cooperative Societies to advance fresh crop loan limits to such farmers to enable them to cultivate the Rabi crop.
Short-term loans granted to the agricultural sector amounted to about EGP 7.7bn in FY 2017/18, compared to EGP 5.6bn in FY 2016/17, an increase of 36.2%, while the total medium-term loans
reached EGP 602bn, against EGP 3.5bn, an increase of 76.5%, CAPMAS said in a report on Wednesday.
The usage of long-term and medium-term loans
and facilities fell to about $2.2 billion, down from about $4.7 billion.
In addition, the group's overall indebtedness rose to 142.5 million dinars, including 101 million dinars of medium-term loans
. The Group also reports that its Moroccan subsidiary OTMA achieved a 101.5% growth in revenues as of December 31, 2018 compared to 2017.
The minister said rural economy will be further accelerated through providing short- and medium-term loans
among the members of cooperatives.
Problems resurface when, at the end of the programme, the prudent policies and reform agendas are abandoned, and states revert to unchecked expenditures through short- and medium-term loans
, consequently leading to renewed economic instability.
The COA pointed out that under Section 26 (e) of RA 8282, not more than 10 percent of the SSS's Investment Reserve Fund (IRF) shall be allocated for the short- and medium-term loans
of its members such as salary, educational, livelihood, marital, calamity and emergency loans.
INNOVATIVE For instance, most of the savings and credit co-operative societies (saccos) offer large amounts of shorter medium-term loans
for as little as 12 per cent per annum.
It provides export credit guarantees, gives trade information for exporters and extends short and medium-term loans
to Nigerian exporters, among other services designed to boost Nigeria's participation in international trade.
"In my opinion, when crop loans are converted into medium-term loans
, the interest rate should remain at par with the crop loans.
The EUR200 million programme, in the form of medium-term loans
at favourable financing conditions, will help Jordan cover its external financing needs in 2017 and 2018, support reform measures in the areas of public finance management and taxation, promote investments and exports, strengthen the country's social safety net, and foster job creation.