Agricultural Credit Corporation
Establishment of a branch in Thiban - 18 million dinars loans financed by «agricultural lending» this year
Home » Latest News » Establishment of a branch in Thiban - 18 million dinars loans financed by «agricultural lending» this year
Wednesday, April 5, 2017

The Board of Directors of the Agricultural Credit Corporation approved the establishment of a new branch of the Foundation in the Deiban Brigade in Madaba Governorate.

This approval was approved by the Council during the meeting chaired by the Minister of Agriculture and the Chairman of the Board of Directors Eng. Khalid Al Hanifat in the presence of the Director General of the Foundation Eng. Mohammed Al Hiyari and members of the Council from the public and private sectors due to the increase in the demand for agricultural loans in the province, Agricultural projects in both plants and animals in the brigade and to alleviate the farmers and borrowers in time, effort and money.

During the meeting, the Board discussed a number of topics on the agenda, including the lending activity of the Foundation during the first quarter of the current year 2017. During the meeting, Eng. Hayari said that the value of loans granted to farmers since the beginning of the year exceeded 18 million dinars, benefiting more than (3600) And a real rise over the same period of last year 2016 (approximately 7) million dinars, due to the increasing demand for the Foundation's loans in general and agricultural loans subsidized without interest in particular.

He also reviewed the volume of agricultural loans provided by the Foundation to farmers without interest during the first quarter of this year, which exceeded the amount of (7) million dinars of total lending, benefited more than (1500) farms distributed on the project of protected and irrigated agriculture projects, 4 million dinars out of the amount allocated for this project, amounting to (11) million dinars in addition to the project to support fodder for sheep breeders value of (3) million dinars out of the amount allocated for this project (9) million dinars benefited more than (1180) All regions of the Kingdom.

He also pointed out that the total loans granted to farmers were distributed in all areas of investment and agricultural goals. The most prominent projects were the development of animal wealth, the value of about JD 5.1 million, the projects of reconstruction and exploitation of agricultural land worth about JD 1.3 million, the projects of developing water resources, (3.7 million) dinars and projects of agricultural production ((animal and plant)) worth (4) million dinars in addition to the draft rural finance program in force at the Foundation and the value of one million dinars.

The loan program through the Small Loans Project to contribute to the reduction of poverty and unemployment in the countryside and the Jordan Badia reached about JD 3 million of the total loans, which benefited 658 borrowers and borrowers during the first quarter of this year.

At the end of the meeting, the Board of Directors of the Foundation valued the developmental and pioneering role played by the Foundation in the service of farmers and agriculture in all regions of the Kingdom with the aim of contributing to agricultural development by providing agricultural loans to farmers for the purpose of financing agricultural projects in all fields of agricultural investment.

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