Latest news with #AgriculturalCreditCorporation
Zawya
27-06-2025
- Business
- Zawya
Jordan: Farmers in Irbid receive over $2.8mln in agricultural loans — official
AMMAN — The Irbid branch of the Agricultural Credit Corporation has begun providing interest-free loans to livestock breeders, including those raising sheep, cattle, and camels, according to the branch director, Malik Akour. Akour said the programme, which began at the start of 2025, also includes agricultural loans for farmers and rural families across the villages and districts of Irbid Governorate. 'So far, around 136 farmers have benefited from the loans,' the Jordan News Agency, Petra, reported. As of June 24, the total value of loans disbursed by the branch reached JD 2,061,444, distributed across several categories. Interest-free loans to livestock breeders amounted to JD 325,000, benefiting 90 recipients, he said. He also said that loans worth JD325,000 were allocated to support women's empowerment and rural family projects aimed at combating poverty and unemployment, with 10 borrowers benefiting. Rural financing projects received JD203,000, supporting 55 borrowers, while JD1,185,000 was directed toward land reclamation, livestock development, and food processing projects, aiding 200 farmers. Akour emphasised the corporation's role in supporting the sustainability of the agricultural sector this year, particularly amid a delayed rainy season and low rainfall. 'The interest-free loans have helped ensure the availability of livestock feed, compensating for the shortage of natural grazing lands this season. Additionally, agricultural and food processing projects have been funded with highly subsidised interest rates.' © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Zawya
26-05-2025
- Business
- Zawya
Jordan: Agricultural sector marks ‘major' growth since independence
AMMAN — The Agriculture Ministry on Sunday said that the added value of the sector's production has reached JD1.691 billion, registering a 9 per cent growth rate. Development of the agricultural sector is among the 'most significant' achievements since the independence of Jordan, the ministry said in a statement on the occasion of the 79th Independence Day, carried by Al Mamlaka TV. According to the statement, vegetable production has increased by 91 per cent, while fruit tree produce has risen by 141 per cent. The variety of vegetables and fruit trees grown has also expanded to meet both local and international demand. To date, Jordanian agricultural produce has reached 112 countries, and the value of agricultural exports has risen by 441 per cent, achieving JD1.5 billion, the ministry noted. Regarding livestock, on which residents of rural regions and the Badia rely for income, the ministry reported an increase of 54 per cent, bringing the total number of animals to 3.8 million. The value of animal products has grown by 279 per cent, reaching JD1.305 billion. Employment in the agricultural sector now stands at 261,000 workers, an increase of 38 per cent. This, the ministry said, reflects the sector's potential to generate job opportunities in rural areas. The capital of the Agricultural Credit Corporation (ACC) has grown by 213 per cent, reaching JD100 million. Annual loans provided to farmers now total JD55 million, with 11,000 farmers benefiting from the corporation's services. The ACC has also guided farmers towards cultivating high-value crops and adopting modern technologies, including solar energy systems. The ministry added that it has prioritised food production to ensure integration among economic sectors and generate further employment. It has adopted the development of agricultural industries through several projects, including the Agricultural Industries Complex in the southern Jordan Valley. This initiative, in partnership with the private sector, will see the establishment of three factories. Investments in these factories are expected to reach JD12 million. They will produce 3,800 tonnes of tomato paste and 2,500 tonnes of frozen vegetables, creating 200 job opportunities for the local community. To stimulate agro-industrial activity within industrial estates, the ministry has launched an initiative to encourage private sector investment by covering rent costs for hangars used by investors for five years. Following the signing of 20 agreements with the private sector, it is expected that the facilities will produce 34 tonnes of processed potatoes, 100 tonnes of mushrooms, 2 tonnes of vegetables prepared for export, and 1,500 tonnes of locally farmed fish. The total value of private investment in this area is projected to reach JD30 million, generating approximately 2,500 jobs, the ministry said. Additionally, the ministry has launched the Agricultural Production, Marketing and Manufacturing Accelerator Project. This initiative provides soft loans of up to JD500,000 per company, with a 2 per cent interest rate, to support agricultural industries. The ministry also supports small agricultural enterprises due to their role in job creation. It has helped implement nine agricultural alliance projects at a total cost of approximately JD755,000. These initiatives have enhanced agricultural products and created 135 additional jobs in remote areas. The ministry plans to expand the alliance programme to include 100 alliances by the year 2030. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Jordan Times
13-04-2025
- Business
- Jordan Times
Jordan, WFP agreement to provide 'interest-free' loans to farmers, agri-projects — ACC
The Agricultural Credit Corporation says WFP agreement to provide 'interest-free' loans to Jordan's small- and large-scale farmers to confront climate change challenges (JT file) AMMAN — Director-General of the Agricultural Credit Corporation (ACC) Mohammad Dogan said that the ACC agreement signed with the World Food Programme (WFP), which was recently approved by the Council of Ministers, represents a "qualitative" step in supporting Jordan's small- and large-scale farmers to confront climate change challenges. On its goals, Dogan said that this step aims to finance projects that integrate modern agricultural practices that contribute to achieving Jordan's food security and developing production chains, according to the Jordan News Agency, Petra. Dogan added that the agreement, which aims to support and develop climate-resilient agriculture with a total value of JD3.5 million, seeks to enhance resilience of Jordan's farmers by providing modern agricultural practices that take into account "sustainable" agri-development. The director-general said that the agreement mainly targets water-smart and water-saving agricultural activities, as well as crops with 'high' economic returns, primarily saffron cultivation and packaging projects. Under the agreement, financing for two types of projects is secured, he said, adding that individual businesses will receive loans of up to JD10,000, while medium-sized agricultural enterprises' projects will get loans of up to JD70,000 interest-free, as the programme will pay the interest costs. These projects is set to target the governorates of Mafraq, Jerash and Balqa, ensuring that support is directed to the areas, which are the "most vulnerable and most affected "by climate change, he pointed out. Dogan noted that this cooperation would contribute to stimulating expansion of the use of smart agricultural technologies and alleviating the financial burdens on farmers, achieving resource sustainability, enhancing productivity and quality of local agricultural products, and addressing climate change consequences.
