Agricultural Credit Corporation announces discount for debtors

AMMAN — The Agricultural Credit Corporation on Monday approved a set of deductions on interest and profits at rates ranging between 15 per cent and 50 per cent to debtors wishing to pay their dues, the Jordan News Agency, Petra, reported. 

The decision, announced in a meeting headed by Agriculture Minister Khalid Hneifat, aims to relieve debtors of financial burdens and improve the corporation’s liquidity.

During the meeting, the ACC board of directors reviewed the corporation’s achievements during 2022, including granting loans worth JD40 million to 9,000 beneficiaries, as well as interest-free loans and providing subsidised benefits to develop the agricultural sector. 

ACC Director General Mohammad Balawna said that the corporation continues to follow its lending plan, which targets value-added projects, alleviates unemployment and poverty, and generates income for families working in the agricultural sector. 

The plan comes within the framework of the National Plan for Sustainable Agriculture (2022-2025) implemented by the Ministry of Agriculture to develop the agricultural sector, pointing to the activation of the electronic payment service (eFAWATEERcom) in the corporation as of August.