Ammon News - Board of Directors of the Agricultural Credit Corporation (ACC), chaired by Minister of Agriculture, approved the corporation's 2026 budget on Sunday.

The meeting, which brought together ACC Deputy Director and board members from the public and private sectors, passed a lending budget of JD70 million, marking an increase of approximately 10%, compared to 2025.

According to an ACC statement, this plan comes as part of implementing the corporation's previously endorsed expansion plan and in response to the growing demand for agricultural financing and its improved capacity to meet farmers' needs.

The board also approved establishment and launch of a relief account program for humanitarian cases, including death or disability, for certain borrowers, who don't benefit from the ACC's existing insurance fund.

This account will be funded by revenues on investments from the Solidarity Fund and Islamic Murabaha donations, and will provide relief of up to JD500 for eligible humanitarian cases.

The board reviewed the ACC's key achievements for the current year, which witnessed continued improvement across various financial and administrative indicators, as most goals set within the approved plan were fulfilled.

During 2025, the value of loans approximately stood at JD64 million, out of the target JD65 million, representing a 98% completion rate.

These loans benefited 12,880 farmers, marking a 25% rise, compared to 2024, and covered most agricultural sector activities, with a focus on promoting modern farming practices, supporting value chains, and empowering women and youth.

The value of interest-free loans granted during the current year reached approximately JD11 million.

Regarding debt collections, the board said the amounts collected as of December 15 reached approximately JD61 million, out of a total collection plan of JD70 million, representing an 87% completion rate.

Loan repayment is estimated to reach approximately JD65 million by the end of the year.

Regarding achievements of the ACC's borrower life insurance fund, the board noted 46 farmers (both male and female) received compensation totaling JD216,000, as part of efforts to strengthen the social safety net for borrowers and support their economic stability. Petra