Amman: The Board of Directors of the Agricultural Credit Corporation (ACC), led by the Minister of Agriculture, approved the corporation's 2026 budget, which includes a lending budget of JD70 million. This marks a 10% increase compared to the previous year, 2025.
According to Jordan News Agency, the decision was made during a meeting that included the ACC Deputy Director and board members from both the public and private sectors. This increase is part of the corporation's expansion plan, aimed at addressing the rising demand for agricultural financing and enhancing its ability to support farmers' needs effectively.
In addition to the increased lending budget, the board approved the establishment of a relief account program for humanitarian cases such as death or disability. This initiative targets certain borrowers who do not currently benefit from the ACC's insurance fund. The relief account will be financed by revenues from the Solidarity Fund's investments and Islamic Murabaha donations, providing up to JD500 for eligible cases.
The board also reviewed the ACC's achievements over the current year, highlighting improvements in financial and administrative areas, with most goals from the approved plan being met. In 2025, the ACC issued loans valued at approximately JD64 million out of a targeted JD65 million, achieving a 98% completion rate. These loans benefited 12,880 farmers, a 25% increase from 2024, and focused on modern farming practices, value chain support, and empowerment of women and youth.
Interest-free loans during the current year amounted to approximately JD11 million. As for debt collections, the board reported that JD61 million had been collected by December 15, with a total collection plan of JD70 million, representing an 87% completion rate. Loan repayment is projected to reach JD65 million by year-end.
Furthermore, the ACC's borrower life insurance fund compensated 46 farmers, both male and female, with a total of JD216,000. This effort is part of the ACC's commitment to enhancing the social safety net for borrowers and supporting their economic stability.