Amman: The Agricultural Credit Corporation (ACC) has introduced an initiative aimed at empowering Jordan's farmers by facilitating access to essential agricultural production supplies and inputs through low-interest loans.
According to Jordan News Agency, the initiative was launched by the Minister of Agriculture and ACC's Board of Directors, Khaled Hneifat. The new program is designed to offer operating loans that are disbursed directly to suppliers. In exchange, these suppliers are required to sell their products at preferential and reduced prices, adhering to specific regulations established by the ACC.
In a recent board meeting, it was decided that the loans would carry an interest rate of less than 1% of the ACC's approved prices. This decision is intended to serve farmers effectively, allowing them to benefit from the incentive loans. The initiative is part of a broader strategy to implement partnership principles between the public and private sectors under the Economic Modernization Vision (EMV).
The ACC statement further highlighted that these loans are expected to lower agricultural production costs, boost liquidity available to the private sector, and support national food security by stimulating local production. The initiative reflects a commitment to enhancing the agricultural sector's productivity and resilience in Jordan.