A farmer, who was a past beneficiary of a loan from the Agricultural Credit Corporation, inspecting his thyme plants in a greenhouse. There have been 142 000 beneficiaries of loans from 1960 to 1996 and they are given to farmers at a concessionary interest rate of 6 to 8% compared to the commercial rate of 13 to 15%. - - Assistance for Enhancing Rural Banking Services: TCP/JOR/8821. The Technical Cooperation Programme of the Food and Agriculture Organization of the United Nations (FAO) is assisting the Agriculture Credit Corporation (ACC) in Jordan to enhance rural banking services. The ACC, which is a government-owned and semi-autonomous institution, is the main source of agricultural credit in Jordan. It provides farmers with seasonal, short, medium and long term loans and extends its credit facilities to the farming sector through 20 branches located all over the country. Loans are given to farmers at a concessionary interest rate of 6 to 8% compared to the commercial rate of 13 to 15%.
Operations at the head office of ACC are computerized but the branches still work manually, which causes severe problems and inflates costs. Technical support will involve training, adaptation of the system into the Arabic language and pilot installations.