Integrating Graduates in the Production Process
This program was released to finance young graduates from agricultural universities and agricultural, veterinary and fisheries institutes who couldn’t get jobs opportunities.This finance will help them to contribute to the creation of permanent or temporary employment opportunities by establishing income-generating, productive and service-oriented small and medium-sized enterprises.
- Creating new job opportunities among young graduates in order to reduce unemployment rates.
- Contributing positively to the reduction of poverty levels in general, and especially among youth category.
- Improving of the economic and social status of such group of people which right away will lead to higher levels of new families and communities.
- Encourage young people to integrate into the field of small investments and furnish them with new knowledge and practical experience in this field.
- Contributing to the improvement of service levels and types that can be provided through implemented projects, as a result of recent entries of an educated people who have wide knowledge in a number of sectors; economic, health, environment and so on.
- Creating new development models in the field of small and medium enterprises with the possibility of distributing these ideas in order to be adopted by other financing agencies in the country.
- Working to revive the Yemeni coast and countryside to the production process while working to stimulate many of the popular industries that are close to extinction.
- These small enterprises may establish the buildup of small industrial cooperatives that push these communities into large distances in development.
- These projects will reduce production losses.
- These projects can result in improving the preparation, packaging, and transportation of agricultural and fishery products, which will rise their market value and preserving their nutritional value.
- Contributing to the reduction of environment pollution in the rural and coastal areas and reducing the spread of diseases and epidemics.
- Contributing to solving a number of agricultural and fisheries problems such as slaughtering of young animals.
Terms and Documents Required to Obtain the Service:
- The customer should maintain an account with CAC Bank.
- Providing the original identity copy (a valid electronic card or passport).
- Fill in the application form explaining the type of finance requested and its purpose by visiting any branch or office of the bank.
- The applicant must be a Yemeni national, a young graduate and have a good reputation.
- He must have the knowledge and ability to manage the financed project with high efficiency.
- The applicant must contribute to not less than (15% - 25%) of the value of project (in-kind or cash), and doesn’t have a due loan to other party.
- The beneficiary shall be a resident of the area in which the loan was granted.
- The beneficiary shall submit all papers and related documents to the project as well as all finance requirements.
- The Beneficiary shall have the ability to provide sufficient guarantees required by the Bank.
- The requested finance shall be used only for the purposes and terms specified.
- The beneficiary of the finance shall submit a simple technical and economical feasibility study proving the economic, technical and marketing successes of the project and the ability of the project to meet its obligations towards the bank. The project shall specify the necessary investment costs required for the project without exaggeration, along with the contribution of both the borrower and financier to the costs.
- The Beneficiary shall comply with the terms, conditions, costs and specifications specified in the early prepared and approved technical and economical study of the project.
- The beneficiary of the finance shall be able to afford any other incurred expenses or costs.
- Banking tariffs (10% - 11%), in which 50% of finance are borne by the Agricultural and Fisheries Promotion Fund and 50% by the beneficiary.
All or some of the following guarantees: (that cover the value of the granted finance to customer and also subject to the policies and decision of the Agricultural Credit Committee)
- A commercial guarantee from a merchant that have an account with CAC Bank.
- A guarantee from funds or entities that may nominate the farmer to have the finance. (or less if the guarantee is supplementary).
- Guarantee a deposit in the bank. (or less if the warranty is supplementary).
- Partial guarantee for those employees who receive their salaries through our bank not exceeding 50% of the net salary. (or less if the guarantee is supplementary).
- For short term finances reached to 2 years, gold mortgages must equal to 150% of the value of the finance as approved by the Agricultural Credit Committee. (or less if the guarantee is supplementary).
- A property located in a provinces’ capital that covers at least 120% of the value of the required finance, (or less if the guarantee is supplementary).
It depends on applicant request; the finance is flexible and can be made in a traditional or Islamic way.
Banking tariffs (10% - 11%), in which 50% of finance are borne by the Agricultural and Fisheries Promotion Fund and 50% by the beneficiary.
If the customer presented all required guarantees, the finance will be preceded within only two weeks.
Yes, finance can be granted by using the academic record in case of the graduation certificate is not ready.
According to the scope of the graduate person in any agricultural field (agriculture or industry).
According to the feasibility study of the project.
Yes, in case the finance is less than YR5 million a feasibility study must be provided and the bank's Lending Officer reviews it. If the finance amount is greater than that, the feasibility study should be prepared through a specialized consultant office.
At the nearest branch or office to the customer.
(Application form according to the approved form - original ID card - graduation certificate or academic record - price offers)