Transitional govt. demands Aleppo farmers in Aleppo pay interest on “interest-free” loans

Several farmers in Aleppo found themselves facing unexpected demands from the Agricultural Bank affiliated with the transitional government to pay interest of up to 16% on the solar energy loans they had previously received for their agricultural projects. The loans had been described as “interest-free,” which has caused widespread resentment among farmers, who consider the move a clear violation of the signed contracts. The bank, meanwhile, justified the decision with financial and administrative reasons.

According to local sources, 16 farmers from Aleppo received subsidized loans to install solar energy systems valued at 180 million Syrian pounds each. The repayment was set over ten years, with a fixed annual installment of 18 million pounds, and no financial interest, as stated in the contracts signed with the fund and the Agricultural Bank.

The surprise came when the Cooperative Agricultural Bank began demanding annual interest payments of up to 16%, informally and without an official written notice. This angered the farmers, who argued that such action contradicts the official loan agreements.

Farmers believe that imposing additional financial burdens on them undermines the main purpose of the project, which is to support the agricultural sector.

A-H 

ANHA