BBAC (Bank of Beirut and the Arab Countries) inaugurated a groundwater extraction project using solar power in Maknah village, Bekaa.
The ceremony took place under the patronage of the Ministries of Industry and Agriculture in the municipality premises in the presence of political, social and economic personalities and dignitaries of the region.
The project is a step in the right direction to overcome the many environmental and economic challenges Lebanon currently faces. Thanks to BBAC’s Kafalat loan, Mr. Fadi Al-Mokdad, the Head of the Municipality of Maknah implemented smart and advanced solutions for the installation of solar-powered groundwater pumping system for fields’ irrigation, so as to develop his business through sustainable environmental solutions that ensure energy saving and environmental protection.
Mr. Nadim Hamadeh, Assistant General Manager for Banking at BBAC gave a speech during the ceremony and commented: “The best way to cope with all the difficulties in Lebanon is through alternative and smart solutions for economic and environmental issues that can lead to economic growth and progress, while protecting the environment. We at BBAC strive to build a modern economy based on innovation and technological progress. We also aim to create new jobs to build a successful future for Lebanon.”
He added: “Today we are launching a project that was highly supported by our bank, and was made possible through the Kafalat loan. This loan is an example of the importance of cooperation between private companies, banks, and the Central Bank of Lebanon, under the sound supervision and management of Kafalat Company.”
BBAC always seeks to help small and medium-sized enterprises and aspiring entrepreneurs grow by supporting them through financial services and development initiatives provided by the bank, based on BBAC’s mission to be “Your Caring Bank.”