Amman, Oct. 5 (Petra) – The Agricultural Credit Corporation (ACC), in cooperation with the Agricultural Materials Traders & Producers Association, launched a new initiative on Sunday to support farmers by providing interest-free loans.

The initiative is part of the public-private partnership and implementation of the development priorities outlined in the Economic Modernization Vision.

According to an ACC statement, the decision aims to alleviate financial burdens on farmers and avoid their exploitation in the prices of production inputs under a financing system.

Under the new mechanism, farmers will receive loans at preferential prices without incurring bank interest costs, as suppliers will cover the financing costs on behalf of farmers.

The statement added that the initiative came after “extensive” consultations with representatives of the Kingdom’s agricultural sector to deliver positive outcomes on all stakeholders involved in the Kingdom’s agricultural value chain.

The initiative also contributes to improving “efficiency” of agricultural financing and achieving its immediate goals.

The ACC announced suppliers will be directly paid for agricultural inputs, which would enhance their cash flows and avoid risks of accumulated debts owed to farmers.

The ACC said this step “genuinely” reflects the “true” partnership between the public and private sectors and constitutes a “feasible model” for achieving sustainable development and enhancing financial and production stability in the Jordanian agricultural sector.
//Petra// AG
05/10/2025 15:07:19