Amman: Minister of Agriculture and Chairman of the Board of Directors of Agricultural Credit Corporation (ACC), Khaled Hneifat, announced that the corporation’s board has decided to allocate an additional JD16 million in interest-free loans for the next year to support sustainable and climate-resistant agriculture.
According to Jordan News Agency, the board’s decision was made during a meeting held on Thursday. The expansion of the ACC’s lending plan for 2025 to JD65 million marks a 20% increase compared to the current year. Hneifat explained that this decision followed a review of the 2024 lending plan, the ACC’s 2025 budget, and the rise in the collection rate, which reached JD62 million. He also noted that the projects transferred for legal follow-up did not exceed 3%, indicating the feasibility of investing in the Kingdom’s agricultural sector.
The board also approved measures to facilitate access to financing and the establishment of two food manufacturing factories in Ghor Al-Safi and Ein Al-Basha, wi
th a total investment of JD700,000. Hneifat emphasized the board’s efforts to streamline loan procedures and enhance the efficiency of natural resource use, aiming to support young men and women in financing small and medium agricultural projects and rural enterprises, particularly in food manufacturing and marketing.
Meanwhile, ACC Director General Mohammad Doujan affirmed that the corporation’s plan aligns with the National Plan for Sustainable Agriculture and the Economic Modernization Vision. He highlighted that the increased volume of interest-free loans is expected to drive growth in the Kingdom’s agricultural sector and enhance its competitiveness.