THE IMPORTANCE OF AGRICULTURAL AND THE RURAL BANK IN FINANCING AGRICULTURAL DEVELOPMENT EXPENDITURE IN LIBYA | ||
| Fayoum Journal of Agricultural Research and Development | ||
| Article 17, Volume 27, Issue 1, January 2013, Pages 91-102 PDF (436.72 K) | ||
| Document Type: Research articles. | ||
| DOI: 10.21608/fjard.2013.194635 | ||
| Abstract | ||
| The research problem is confined to decline in the contribution of agricultural resources generally available, and capitalist resources particularly to finance of agricultural economic development programs under the low proportion of agricultural investment expenditure of the total investment expenditure, which decreased from about 19% during the period (1973-1985) to about 11.2 % during the period (1986-2009), which impact negatively on the performance of the agricultural sector, and then low rates of agricultural development in Libya, which required him directing economic policies towards increasing investments of the agricultural sector to achieve the objectives of the desired development, achieve the highest rate of selfsufficiency possible strategic commodities produced by this sector, and it became clear the importance of each of the Agricultural Bank and Rural Bank in lending to agricultural producers loans agricultural accessible and special categories of low-income, which is a real addition to financial institutions and social Libyan interested in assisted groups low-income so that they can develop their performance and active participation in various economic activities, helping them to improve their income and raise their standard of living, and then trend Libyan community to the economic development prospects1 The research aims in general to highlight the importance of the role of each of the Agricultural Bank and the Libyan Rural Bank in financing agricultural economic development programs, social, even can raise the level of living of employees in the agricultural sector1 A study the evolution of the value of short-term agricultural loans it took years growing trend statistically significantly increased by increasing an annual rate of about 568.1 million dinars, representing about 10.3% of the annual average of such loans of about 5508 million dinars during the period of the policy of economic development plans (1973-1985). It also took those loans-year declining trend statistically significantly by decreasing the annual rate of about 822.5 million dinars by decreasing amounted to approximately 9.3% of the total annual average of short-term agricultural loans of about 8879 million dinars during the second period (1986 - 2009). It could be argued that the period of economic transformation has had a negative impact on the values of short-term agricultural loans. This can be explained that most of the farmers turned to borrow medium-term agricultural loans and long-term with the highest value to take advantage of them to increase their incomes more than what they get from the short-term agricultural loans1 As shown by the study of the evolution of the value of medium-term agricultural loans that there is a continuous increase significantly statistically for such loans during the two periods of the study (1973 - 1985), (1986 - 2009), increased from about 393.9 million dinars annually representing approximately 10.40% of the annual average for those loans of about 3802 million dinars during the first period to about 1.4134 billion dinars annually representing about 17.4% of the annual average of such loans of about 8097 million dinars during the second period, which demonstrates the positive impact of the policy of economic transformation on the evolution of the total medium-term agricultural loans1 As shown by the study of the evolution of the value of long term agricultural loans that those loans took a decreasing trend by decreasing annual rate of about 195.9 million dinars by decreasing amounted to approximately 11% of the annual average of such loans of about 1769 million dinars during the first period (1973 - 1985), but the those long-term agricultural loans took a general trend growing significantly statistically by growing an annual rate of about 1.3039 billion dinars, representing approximately 16.57% of the annual average of such loans of about 7865 million dinars during the second period, which illustrates the positive impact of the economic transformation on the value of agricultural loans long-term granted Agricultural Bank because the Libyan government has pumped funds for the Agricultural Bank to offset part of the years of economic and political blockade imposed on Libya and seek to achieve agricultural development through the implementation of agricultural projects, long-term funds that have been borrowed from the Agricultural Bank1 With regard to knowledge of the effects of these policies on the development of the total agricultural loans granted by the Agricultural Bank | ||
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