The Ministry of Energy has joined hands with the Ministry of Agriculture in Jordan towards the establishment of solar systems to support farmers in the country. Loans have been given by the Agricultural Credit Corporation. The loan interest will be looked into by the Renewable Energy Promotion Fund.
The loa, worth one million and 140 thousand Jordanian dinars, will be interest-free. The beneficiaries will be allocated loans at the upper limit of 20 thousand dinars.
The initiative will help curb agricultural production expenditure while also paving the way for a competitive climate for exports. Farmers will also be able to rake in higher profit margins. The announcement builds on the National Plan for Sustainable Agriculture, looking to augment the competitiveness of local agricultural products for export.
Under phase I of the program, solar systems were installed for 172 farms across all of Jordan. The cost for this was pegged at 2 million dinars.