Tafilah, April 14 (Petra) -- The Agricultural Credit Corporation has extended loans to around 1,600 farmers so far this year, with total financing reaching JD 10 million and a repayment rate of 96 per cent since the introduction of a computerized system early this year.

During an inspection visit to the corporation’s branches in Tafilah and Basira, Director General Mohammad Dujan said the figures reflect growing momentum in lending activity and the expansion of services to farmers. He added that the corporation is implementing an ambitious lending plan worth JD 70 million this year, under which beneficiaries are expected to exceed 10,000 farmers.

He said the institution has begun implementing a modern computerized system at the beginning of this year, characterized by accuracy and flexibility, aimed at accelerating procedures and easing service delivery. He noted that the system is still in its trial phase ahead of its official launch.

He stressed the corporation’s commitment to developing its services and enhancing its role in supporting the agricultural sector, noting that the figures reflect ongoing efforts to modernize institutional operations and expand the base of beneficiaries across the Kingdom.

During the visit, Dujan listened to remarks from Tafila branch manager Ahmed Awjan, staff, and clients regarding work procedures and the implementation of the new computerized system. He directed that the observations be addressed immediately and that transactions be expedited to improve service quality.

Dujan added that the system represents a first step toward launching electronic services that will allow farmers to access services without visiting the institution, in line with the Economic Modernization Vision and public sector development plans. He stressed that the system enhances efficiency, transparency, and procedural simplification while reducing administrative obstacles.

Dujan said the institution has signed a cooperation agreement with the Ministry of Labor to finance agricultural and rural projects for small and medium-sized farmers across the Kingdom. The agreement aims to support job seekers in establishing entrepreneurial projects in agricultural value chains.

He added that the corporation financed more than 12,880 farmers and investors in 2025, including 9,350 men and 3,650 women, with a total value of JD 64 million, up by JD 7 million compared with 2024.

He said about JD 9 million of financing were provided under Islamic finance principles, while around JD 11 million were allocated to subsidized, interest-free loans for agricultural activities, including crop and livestock production, mechanization, food processing, and production inputs.

He noted that lending policies focus on promoting modern agricultural technologies, enhancing food security, directing financing toward rural and underserved areas, and supporting family-based and women-led projects, as well as job seekers.

Dujan said about JD 8 million were allocated to projects targeting poverty reduction and unemployment, benefiting around 2,150 job seekers, underscoring their role in sustainable economic and social development.

He also highlighted the "My Land Without Interest" project, valued at JD 10 million over five years, which promotes modern technologies for water resource management. The project has so far benefited 134 farmers with financing totaling JD 1.6 million, in cooperation with the Ministry of Agriculture and the World Bank.

He said total lending provided by the corporation’s two Tafilah branches reached JD 3.5 million, supporting 570 agricultural projects.

The tour also included a visit to a mushroom incubation, cultivation, and canning factory, financed under the corporation’s program to support agro-food industries with reduced interest rates.

//Petra// AJ