Amman, June 4 (Petra) – The Board of Directors of the Agricultural Credit Corporation (ACC) convened on Wednesday under the chairmanship of Minister of Agriculture Khaled Hunaifat. The meeting was attended by 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 effectiveness in supporting the agricultural sector. Foremost among these was the decision to increase the Corporation’s capital from JD75 million to JD100 million. The move is intended to strengthen financial solvency, improve capital efficiency, and boost performance for both local and international stakeholders.

The capital increase will enable the Corporation to meet rising financing demands and expand its lending programs in alignment with the Economic Modernization Vision and the National Plan for Sustainable Agriculture.

The Board also approved the integration of solar energy projects into the "Agricultural Manufacturing, Marketing, and Production Accelerators" package designated for large-scale agricultural projects managed by specialized companies. This decision reflects the growing importance of reducing production costs and promoting environmental sustainability in energy-intensive agricultural operations.

In a move to support farmers affected by land expropriation, the Board adopted a payment installment plan allowing farmers to reclaim their lands once outstanding debts are settled. The measure aims to provide economic and social empowerment by facilitating land reinvestment.

Additionally, the Board approved JD2.1 million in new loans to a group of farmers. These loans focus 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, which totaled 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 recorded positive trends in water efficiency, adoption of clean energy, and expanded cultivation areas, underscoring the Corporation’s contribution to sustainable agricultural development.

//Petra// AJ

04/06/2025 18:03:31