IDAL to reimburse agriculture export subsidies

The Investment Development Authority of Lebanon will reimburse subsidies due to agricultural exporters Tuesday, the body said Friday. “IDAL will pay up to 90 percent of reimbursements to exporters for various agricultural produce,” the statement said. The reimbursements are part of the “Export Plus” program and will cover payments due in the second half of 2011. The statement called on exporters and farmers to liaise with IDAL offices in their respective regions to receive the payments. Export Plus has been replaced by a more comprehensive export subsidy program dubbed “Agri Plus,” IDAL has recently announced. The new program, worth LL50 billion yearly, primarily aims at opening new markets for Lebanese produce and will be co-managed by IDAL and the Agriculture Ministry, the two sides announced in March. From TheDailyStar