Amman: The Board of Directors of the Agricultural Credit Corporation (ACC) held a meeting on Wednesday, chaired by Minister of Agriculture Khaled Hunaifat, with the attendance of his deputy, ACC Director General Mohammed Doujan, and board members from both the public and private sectors. The Board approved several strategic decisions aimed at enhancing the Corporation's support for the agricultural sector.
According to Jordan News Agency, the Board decided to increase the Corporation's capital from JD75 million to JD100 million. This move is designed to enhance financial solvency, improve capital efficiency, and boost performance for both local and international stakeholders. The capital increase will allow the Corporation to meet growing financing demands and expand its lending programs in accordance with the Economic Modernization Vision and the National Plan for Sustainable Agriculture.
The Board also approved the inclusion of solar energy projects in the "Agricultural Manufacturing, Marketing, and Production Accelerators" package, targeting large-scale agricultural projects managed by specialized companies. This decision aligns with the increasing emphasis on reducing production costs and promoting environmental sustainability in energy-intensive agricultural operations.
In a bid to assist farmers affected by land expropriation, the Board adopted a payment installment plan that enables farmers to reclaim their lands once outstanding debts are settled. This measure is intended to provide economic and social empowerment by facilitating land reinvestment.
Additionally, the Board sanctioned JD2.1 million in new loans for a group of farmers. These loans are focused on agricultural technologies, manufacturing, land reclamation, solar energy, modern irrigation systems, high-yield crops, and logistical services that support agricultural productivity.
The Board also reviewed the findings of a survey conducted by the Department of Statistics on the impact of ACC-provided loans between 2022 and 2024, totaling approximately JD165 million. The study highlighted the success of ACC's lending policies in reaching target groups, increasing productivity, and generating around 65,000 job opportunities, including permanent, seasonal, and family-based positions.
The study further reported positive trends in water efficiency, adoption of clean energy, and expanded cultivation areas, underscoring the Corporation's contribution to sustainable agricultural development.