Agricultural Lending in Aqaba Reaches JD1 Million, Boosting Local Farming Projects

Aqaba:Agricultural financing in Aqaba is providing critical support to farmers, with approximately JD1 million in loans distributed to around 150 farmers so far. This initiative is tailored to projects that align with the governorate's climate and environmental conditions. According to Jordan News Agency, Mohammad Qaramseh, director of the Agricultural Credit Corporation's Aqaba branch, emphasized the importance of sustainable development in the region. The corporation is particularly focused on supporting farmers in areas with unique agricultural characteristics. The financing has seen an increase in areas such as Quwayrah, Wadi Rum, and Wadi Araba, significantly contributing to the development of Aqaba's agricultural sector. Farmers are increasingly investing in livestock projects, especially camels and sheep, which are well-adapted to the local climate. Additionally, there is a growing interest in home-based businesses, such as soap and scented-candle production, as well as dairy and cheese making. Qara mseh highlighted the corporation's efforts to encourage young people to embark on entrepreneurial projects, which helps create job opportunities and reduce unemployment. The Aqaba branch finances a variety of projects, including camel farming, fish farming, the reclamation of agricultural land in the Wadi Araba desert, and renewable energy initiatives. Studies suggest that these projects have a high likelihood of success due to favorable climate and soil conditions. Camel farming, in particular, has been identified as a successful venture. Financing decisions are based on detailed feasibility studies conducted by loan officers, taking into account the farmer's experience, project costs, and long-term sustainability prospects.