The Director General of the Agricultural Lending Corporation, Mohammad Doujan, signed a memorandum of understanding with Tetra Tech ARD, the lead contractor for the water conservation project funded by the U.S. Agency for International Development (USAID).

The project focuses on advancing technical resources and specialized skills in irrigation, reducing reliance on groundwater, exploring alternative sources, and increasing private sector involvement to minimize water consumption and improve conservation techniques.

Under the memorandum of understanding, the Agricultural Lending Corporation will serve as the main financier for loans to farmers adopting water-saving technologies in agriculture. The corporation will facilitate project visits, provide information on application processes and loan management, develop online application portals, and enhance the capabilities of its lending officers through training and project promotion.