Farmers ask to be exempted from paying interest on loans

(File photo: Ameer Khalifeh/Jordan News)
AMMAN — Head of the General Union of Jordanian Farmers Odeh Al-Rawashdeh called on Prime Minister Bisher Al-Khasawneh to exempt farmers who borrow from the Agricultural Credit Corporation (ACC) from paying interest.اضافة اعلان

Rawashdeh told Jordan News that he makes the request in the name of all farmers, “who are still facing the repercussions of the COVID-19 pandemic”, adding that exempting them from paying loan interest for the next five years will help farmers get back on their feet.

“The agricultural sector is at its worst, and the government does not provide any solution,” he stressed.

Based on the ACC annual report for 2021, the regulated loan volume by debt securities for 2021 stood at JD54 million, benefited 12,627 farmers, and helped establish and improve around 12,375 agricultural projects in the Kingdom.

According to the report, 8,014 farmers were new borrowers, making up 64 percent of the total number of borrowers.

Rawashdeh said that the agricultural sector “no longer has the ability to bear more losses and debts”, adding that companies that provide them with production requirements refuse to give farmers any new products due to the accumulation of losses.

He said that the union was surprised by the refusal of the Ministry of Water and Irrigation to exempt farmers from paying interest rate on loans, but that “a request has been sent to the prime minister to reconsider this decision”.

Ibrahim Al-Sharif, head of the Jordan Farmers Union, told Jordan News that interest rates “constitute a huge burden on farmers”, reiterating that farmers have been asking to be exempt from repaying loans since last year’s storm “was disastrous on farmers”.

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