Ammon News - The Director General of the Agricultural Credit Corporation (ACC), Mohammad Balawneh, announced on Sunday the launch of a new initiative, the first of its kind, aimed at supporting farmers through interest-free loans, implemented in partnership with the private sector, represented by the Agricultural Materials Traders and Producers Association.

Balawneh told the Jordan News Agency (Petra) that the initiative aligns with the Economic Modernization Vision’s development priorities and reflects the importance of public-private partnerships in providing sustainable financing mechanisms that enhance the agricultural sector’s productivity and resilience.

He explained that the ACC, as part of its mandate to offer tailored financing solutions to farmers and agricultural service providers across the value chain, consulted with farmers, their union, and the Agricultural Materials Traders and Producers Association to formulate a joint financing model that benefits all parties, the corporation, the farmer, and the supplier.

Balawneh noted that the initiative seeks to protect farmers and ease their financial burdens by eliminating interest, offering suppliers preferential prices for production inputs, and covering loan costs on behalf of farmers. The corporation will directly pay suppliers for agricultural materials, reducing their financial risks, improving cash flow, and increasing the overall efficiency of agricultural financing while ensuring the realization of short-term development objectives.

He added that the initiative represents a tangible example of effective public-private partnership, contributing to sustainable development and strengthening national food security.

Petra