Near East North Africa Regional Agricultural Credit Association (NENARACA)
Address : NENARACA C/O Agricultural Credit Corporation
P.O.Box 77- Amman, Jordan
Telephone: (962)(6) 5668632 - 5661105
Telex : 24124 CRDCOR JO
Fax : (962)(6) 5690816
E.Mail : nenaraca@nets.com.jo
Website : www.nenaraca.org
Background
NENARACA is a voluntary regional association of credit institutions and agencies in the Near East and North Africa Region that deal directly or indirectly with agricultural credit operations and development. It was established on 8th December 1977 in response to a growing need among the countries of the region and for fulfillment of the recommendations by FAO 1975 World Conference on Credit for Farmers in Developing Countries for establishing Regional Credit Associations (RACAs). NENARACA enjoys an autonomous financial and administrative status and legal entity.
Aims & Objectives
The main objective of NENARACA is the establishment of strong foundation and guiding principle for sustained and effective development of agricultural credit systems and efficient agricultural credit institutions in the countries of the Region, that could assist in the promotion and acceleration of agricultural and rural development in the most desired and efficient manner. Most specifically the main objectives are:
- Stimulate cooperation in the fields of planning and development of financial services for rural development,.
- Facilitate among its members systematic interchange of information and experiences,
- Encourage studies and organize specialized symposia to discuss issues of common interest in work functions and policies,
- Coordinate and organize training programmes for upgrading agricultural credit and banking skills of the staff of member institutions.
Membership
Membership is open to all credit institutions which deal directly or indirectly with agricultural credit and operate in the Near East North Africa Region which include all Arab countries plus Afghanistan, Cyprus, Pakistan, Turkey and Iran.
Institutions eligible for membership include agricultural credit institutions, agricultural credit cooperatives, central banks, commercial and development banks involved in lending agricultural sector, government departments dealing with agricultural credit and training, and research and training institutions in the field of agricultural credit. NENARACA may accept NGOs which deal with rural credit as associate members if their financial resources are limited. Membership in 2002 reached 23 member institutions from 16 countries of the Region.
