Date: 21 Jan, 2019
The role of the Arab Authority for Agricultural Investment and Development (AAAID) is noticeable in regards to the interest in small farmers and producers in its Member States. This comes in light of the visit of a delegation from AAAID to the Hashemite Kingdom of Jordan from 6-7 January 2019 to meet with representatives of the International Finance Corporation and the Agricultural Credit Corporation.
The delegation from AAAID, in the presence of representatives of the International Finance Corporation, met with Eng. Mohamed Al-Hayari, Director General of the Agricultural Credit Corporation. The Director General of the Agricultural Credit Corporation welcomed the attendees and thanked the Arab Authority and its President for the support that the Foundation received from AAAID. He also explained the establishment and activities of the Corporation and its role in contributing to agricultural and rural development in Jordan through the provision of financing services to workers in the agricultural sector.
The delegation also met with Mr. Abdullah Al-Jefri, IFC’s Senior Investment Officer, who was briefed on AAAID and its projects and investment opportunities. During the meeting, the Arab Authority was confirmed as a Strategic Partner of the International Finance Corporation. This is through the granting of joint loans to small farmers or some projects that AAAID contributes in, such as Domaine Youssef Company in the Kingdom of Morocco, as well as contributing to the projects and opportunities available to both parties.
To conclude this significant visit, the delegation of the Arab Authority, accompanied by the Director General of the Agricultural Credit Corporation, undertook a field tour of the projects financed by AAAID for Small Farmers in Jordan through the Agricultural Credit Corporation. During the tour, the delegation visited the Umm Al-Jamal village at the Province of Mafraq in Badia North, Jordan, where a number of farmers were interviewed and the expressed their pleasure from the funding and confirmed their need for more loans to develop their business in the coming stages. The number of farmers benefiting from the grant line, which is estimated at about USD 2 million from the Arab Authority for Agricultural Investment and Development through the Agricultural Credit Corporation, reached about 330 beneficiaries, where they were granted loans to benefit from in their agricultural projects as well as other agricultural activities such as pesticides, fertilizers and nurseries.