117 saving, credit groups formed within ‘rural economic growth’ framework

AMMAN — Some 117 saving and credit groups and associations were formed within the framework of the “Rural Economic Growth and Employment Project”, which is managed by Jordan Enterprise Development Corporation (JEDCO) since its establishment in 2015 and in cooperation with the Jordan River Foundation (JRF).

About 1,361 people participated in these groups, about 60 per cent of whom were women, while their total savings amounted to JD219,000, according to JEDCO statement.

JEDCO CEO Omar Qaryouti said that the project is funded by the International Fund for Agricultural Development for six years (2015-2021) in partnership with the National Centre for Agricultural Research, the Jordan Standards and Metrology Organisation, the Jordan Exporters and Producers Association for Fruits and Vegetables, JRF, the Central Bank of Jordan and several microfinance institutions.

Qaryouti added that the project’s objectives are to improve access to funding across rural areas through technical and competitive capacity building for small-scale farmers, rural women and youth, small- and medium-sized agricultural enterprises, integration of small-scale farmers in value chains and employment in rural areas for youth and women.

He explained that a training programme was completed for all participants in the formation of savings and credit groups, equivalent to 200 hours of training, in which 1,066 people participated, including 640 females and 426 males from different targeted governorates.

A total of 255 ideas for productive agricultural projects were developed through these groups, which had a positive impact on the initiation of small projects focussed on improving the living standards of farmers in the targeted areas.

JEDCO recently signed agreements to grant support to productive agricultural projects for saving and credit groups and associations and the grants amounted to a total value of $250,000.