ACC Loans Boost Agricultural Development Amid Broader Economic Modernization Efforts

(MENAFN- Jordan News Agency)

Amman, August 18 (Petra) – The Agricultural Credit Corporation (ACC) has extended loans worth JD 2.616 million to 295 borrowers under the Irrigated and Rainfed Agricultural Land Development and Exploitation Project in the first half of 2024.
This financial support is part of a broader initiative to enhance Jordan's agricultural sector, aligned with the Economic Modernization Vision. According to a progress report on the Vision's executive program, significant strides have been made in various areas, including food security, rainwater harvesting, and agricultural infrastructure.
A comprehensive national database for food security, developed in collaboration with the Department of Statistics (DoS), was launched during this period. The database has been integrated into the department's system, with essential tools activated to ensure its functionality across different executive environments. The database's operation has been bolstered by joint efforts from the World Food Program, the DoS, and other stakeholders, involving extensive training for 30 government and technical personnel.
In efforts to optimize water resources, 40 out of 50 targeted sites were selected for rainwater harvesting, aiming to achieve 80 percent water collection by the end of 2024.
Construction of a food trade and distribution company within the Agricultural Industries Complex in the Southern Jordan Valley has been completed, with final delivery procedures currently underway.
The report also highlighted the formation of 10 agricultural alliances, with three more under study. These alliances, benefiting 862 individuals, are designed to promote contract farming and align agricultural practices with export needs.
To enhance the safety and competitiveness of agricultural products, new guidelines for tracking both plant and animal products have been introduced, aimed at improving agricultural marketing and expanding access to global markets.

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