Madaba:The Agricultural Credit Corporation's branch in Madaba is actively financing farmers with a focus on specialized and smart agricultural activities, aiming to enhance the efficiency of water and energy use.
According to Jordan News Agency, the branch's lending programs support agricultural and livestock projects, small rural enterprises, and initiatives that promote modern technologies. Branch Director Mohammad Al-Qarara disclosed that an annual lending allocation of approximately JD2.5 million is made available to support these activities.
Last year, the branch extended loans totaling JD2.4 million to 403 borrowers. Since the start of this year, it has provided about JD2.1 million in loans to 380 borrowers, nearing the annual target of JD2.5 million. The funding supports a variety of activities, including irrigation, drainage, tree planting, and livestock farming, among others.
Al-Qarara highlighted the corporation's focus on expanding financing into smart agricultural practices that reduce water consumption and production costs, aligning with modernization efforts in the sector. The lending policy also considers the sustainability of activities amid limited rainfall, with JD424,000 allocated for animal feed loans to 112 borrowers last season.
Additionally, rural household projects have received JD170,000 in financing, and poverty and unemployment programs have been supported with JD210,000. The Madaba branch is prepared to finance projects under the "Ardi" water-saving initiative, offering up to JD30,000 for modern irrigation technologies.
The corporation offers loans up to JD15,000 for solar energy projects to help reduce energy costs. A recent agreement with the Jordan Loan Guarantee Corporation facilitates financing for borrowers lacking traditional guarantees.
Loan collection remains crucial, with the branch collecting about JD2.6 million last year and JD1.7 million so far this year, achieving a collection rate of 93 percent and 71 percent of the target, respectively.