Amman: During a meeting chaired by Minister of Agriculture Khaled Hneifat, the Board of Directors of the Agricultural Credit Corporation (ACC) approved the launch of a “subsidized” loan program for Jordan’s agricultural entrepreneurs within the Agricultural Innovation and Entrepreneurship Incubator at the National Agricultural Research Centre (NARC).
According to Jordan News Agency, an ACC statement indicated that interest rates and profit margins will range between 2-2.25 percent. This initiative is aimed at financing specific agricultural projects that rely on modern technology.
The board also approved a decision to grant loans to farmers and agricultural companies to enhance post-harvest logistical services, specifically in packaging and refrigeration processes. This effort is aimed at improving infrastructure and facilitating the marketing and sale of agricultural products.
On their goals, the board stated these moves come within the framework of supporting agricultural investments and raising the sector’s “efficiency,” contributing to achieving “sustainable” development and enhancing food security.