Mafraq, Sept. 7 (Petra) - The Agricultural Credit Corporation's Northern Badia branch issued JD2.6 million in loans to 480 farmers since the start of the year, Branch Director Hamadeh Shorfat told Jordan News Agency (Petra) on Monday.

Shorfat noted that JD250,000 was allocated toward targeted poverty and unemployment reduction initiatives, benefiting 67 smallholders. These interest-free, subsidized loans supported family-run operations, including livestock raising, dairy processing, and food preservation.

To reduce operational costs, the branch provided JD75,000 in interest-free financing for three energy-efficiency projects targeting artesian wells, alongside a JD20,000 loan to fund a 25-kilowatt solar energy system for an olive press.

The branch also funded high-impact agricultural projects with a two-year grace period, including a JD200,000 fruit tree cultivation project and pivot irrigation initiatives to expand large-scale field crop production, focusing on wheat.

Shorfat added that the branch achieved a 60 percent loan collection rate, recovering JD2 million out of JD3.3 million in outstanding dues.

//Petra// HA