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Kafalat to the rescue: Help is on the way for bombed businessesPosted by finkployd in
Info  Kafalat offers low-to-no interest loans to help businesses pick the pieces up. Inciting Peace? -finkployd Thursday, March 31, 2005 BEIRUT: Banks and industrialists rushed to rescue some of the businesses that were affected by the recent string of bomb attacks across Lebanon on Wednesday. Kafalat, a state-sponsored organization, offered merchants and industrialists soft loans with almost zero percent interest. Khater Abu Habib, the head of Kafalat, told reporters at the headquarters of Association of Banks in Lebanon (ABL) that merchants and industrialists who lost their livelihoods following the bomb attacks are entitled to apply for these soft loans so long as their documents and papers were in order. Kafalat was founded by the government and the Central Bank few years ago to grant soft loans to small and medium size businesses. The Central Bank guarantees up to 75 percent of these loans while the rest is covered by commercial banks. Abu Habib said that beneficiaries of these loans can receive up to LL300 million ($200,000) over seven-year periods, and that borrowers are exempted from paying anything in the first year. A massive bomb on March 26 at an industrial complex in Sad al-Bouchrieh, north of Beirut, left many shops and industrial buildings in total ruin. Another bomb in the Kaslik area caused havoc to many shops and business offices, prompting calls by trade associations to tighten security and compensate the institutions that were damaged by these attacks. Abu Habib added that applicants can apply for these loans to buy new equipment or repair some of the damages. On his part, the president of ABL said that commercial banks are willing to reschedule some of the loans of these customers who were affected by the bomb attacks. He added that banks will take into consideration the delicate situation of the country, expressing confidence that the political climate will improve eventually. The president of the Lebanese Industrialist Association, Fady Abboud, said the association would establish a special fund to raise money for Sad al-Bouchrieh, warning that industry in Lebanon has already suffered a lot from competition, high cost of production and attacks by Israeli forces a few years ago. "A special account in three Lebanese banks will be open soon and we hope that some of the institutions will donate money to help industrialists afflicted by these attacks," Abboud said. Metn MP Ghassan Mukhaber said he would propose a law to create a fund for those who suffered from terrorist attacks. The industrialists will assess the cost of the attack on Sad al-Bouchrieh and file a report to the government. Banks and economists warn that if the political bickering and bomb attacks continued in the same spate, a severe blow will be dealt to the overall economic growth of the country. -dailystar Trackbacks
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Blogging Beirut CommentsMon, 14.03.2011 21:53
Firstly, the fines are a perfect deterrant for people. Let me let you in on a little secret: THIS IS CALLED BLIND JUSTICE!!
Lady justice is a perfect dipiction; she wears a "blindfold which r [...]
Mon, 14.03.2011 21:53
Firstly, the fines are a perfect deterrant for people. Let me let you in on a little secret: THIS IS CALLED BLIND JUSTICE!!
Lady justice is a perfect dipiction; she wears a "blindfold which r [...]
Thu, 10.03.2011 13:55
how does someone contact Ziad Baroud? It's not like he's accessible! He's the Interior Minister!
Thu, 10.03.2011 13:41
send this pic to baroud and he will take action
about Naqoura Road Trip
Tue, 08.03.2011 13:56
Love the pictures. Amazing photos and lovely places. Naqoura is my home town and I feel more home sick than ever :)
Sun, 06.03.2011 00:37
i think this song belong's to SabaH's relative cousin i think, his last name faghally i am trying to ramamber his full name, he is lebanese he has another good song goes like,, haw can i live if [...]
Mon, 28.02.2011 01:22
yes, i have to say the best club in lebanon,for the fist year..........
Fri, 25.02.2011 18:21
correct, but you miss the point.
1) the less important point:
technically speaking, you can scan the stub only once, and modify it photoshop also once to produce many stubs to cover the enti [...]
Fri, 25.02.2011 11:06
Interesting! however, for me, the time spent on scanning and photoshoping and printing the ticket is worth more than the 500 LL i was going to pay
Wed, 09.02.2011 06:18
I am an American whose great-grandparents Amen Soffa and his wife Nazera Kimmel (sometimes spelled Lazera Cammel and various other ways) came to America in the late 1800s. I am looking for anyo [...]
Tue, 08.02.2011 23:17
i am from algeria my name is olso berbara jamel..hope you are ok you and your family...
Fri, 28.01.2011 14:34
wow, how'd you stumble upon this?
Fri, 28.01.2011 08:00
We the Native Americans support our brothers and sisters in spirit who are struggling for Freedom and Justice in Egypt.
May the Great Spirit guide and bless your endeavors. El-Hamdallah.
Fri, 28.01.2011 03:26
On fb, an egyptioan guy said he was selected as a finalist on January 26th..I am still waiting for a feedback ..what about your friend ?
Btw, the workshop is in Abu Dhabi :)
Sun, 23.01.2011 14:52
saludos.. yo no soy politico ni hizbi.. soy libanes muhajjar waiting to back to my country libnan sine lon time.. now i know is very dif. situation for you mr president,we hope that you demopstr [...]
Sun, 23.01.2011 13:29
Is it just me or does the first ad aim to enlarge your Balls ?! Who would ever want to do THAT ?!
Thu, 20.01.2011 21:35
Thank you for the information! I was just wondering how much time it takes to give a feedback to the applicants. One of my friends applied by the January 3 deadline and she still didn't get any [...]
Wed, 19.01.2011 12:56
I just stumbled on this review and I totally agree with you. I nicknamed this play the "UNacceptable play" and I still rave about how horrible it was. I love the theatre - but this kind of self- [...]
Fri, 14.01.2011 20:27
Dear Sir
is there more competitions for 2011?
Fri, 14.01.2011 07:47
sannine the best freindly mountain ( allah ylhallih b3id 3an iden the ennemies of pure nature)
Wed, 12.01.2011 22:00
Good work. Money seems to bulldoze beautiful buildings in capitals round the globe. So inspiring to see young people involved in this action.
Nina
Thu, 23.12.2010 11:53
do you have a site to check if I have fine ? because I paid about 12 tickets some are 10,000 and some about 40,000LL .
I called the employee she shsid still 5 tickets ,and it will cost me 200, [...]
Wed, 15.12.2010 22:12
thank you samer for reposting this, i'm honored. notes have been getting amazing feedback! i'm humbled by the whole experience.
i would also like to announce the new "nicer" link which makes [...]
about Les Filles du Basement
Sat, 11.12.2010 02:18
salut
l'amitié c'est savoire tendre l' oreille sans juger .ouvir son coeur ,vraiment l' écouter .partager ensemble ses joies , ses peines est ses doutes aimer sans arriére pensée , juste suivre [...]
about Paul Frank in Lebanon
Wed, 08.12.2010 17:49
That's very good news I didn't know that, I became a fan of Julius the Monkey around 4. However, is this a stand alone store like the one they have in NY, or store that sells Paul Frank. It does [...]
Thu, 25.11.2010 18:44
ra7 ib3atlak wa7ad 3a baytak tay farjeek what ya walad
Thu, 25.11.2010 15:50
So what if this info is available.. In what can it harm you??? People should be able to find out these things... so what hein? so what?>
Wed, 17.11.2010 18:17
If you think facebook is invading your personal privacy don't go online, or get registred. On allmost every site in the world the owner of the site gives you the question "do you accept these te [...]
Tue, 16.11.2010 18:15
Thanks for the post. I have been wondering what is all about the Ehden Reserve. I am just trying to learn as much as I can about Beirut before I come out and visit. I really want to as soon as I [...]
Tue, 16.11.2010 12:17
mabrouk samer and all the best from berlin! sarah
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