Mafraq, April 7 (Petra) -- The Agricultural Credit Corporation (ACC) has allocated JD4.5 million ($6.3 million) for its lending plan in the Mafraq branch this year, focusing on smart farming and rural development.
Ali Al-Khazaleh, director of the Mafraq branch, told the Jordan News Agency (Petra) on Tuesday that the funds are earmarked for specific programs designed to modernize the agricultural sector.
The plan includes financing for "smart agriculture" initiatives under a five-year project partnered with the World Food Programme (WFP). Now in its second year of implementation within the branch’s lending strategy, the smart agriculture project aims to integrate technology to improve efficiency and crop yields.
Al-Khazaleh noted that the lending programs also target rural financing, poverty reduction, and unemployment. A key component of the strategy is supporting unemployed youth by providing capital for private productive projects, which the ACC expects will generate local employment opportunities and improve economic returns for families in the region.
Regarding debt management, the branch has established a collection target of JD4.2 million for the current year. Al-Khazaleh stated that the collection plan is designed to be flexible, taking into account the financial circumstances of borrowers to ensure the sustainability of the agricultural sector.
//Petra// AF
