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Partnership between the Vocational Training Corporation and the Agricultural Credit Corporation to empower graduates and qualify them to benefit from financing opportunities and establish income-generating agricultural projects.
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The agreement focuses on qualifying graduates in agricultural fields and connecting them with available financing opportunities, while prioritizing Vocational Training Corporation graduates and following up on financed projects to enhance their sustainability.
In line with the objectives of the Economic Modernization Vision to support and develop the agricultural sector, strengthen its role in driving economic growth, and create employment opportunities, the Vocational Training Corporation and the Agricultural Credit Corporation signed a Memorandum of Understanding (MoU) aimed at establishing an integrated pathway for graduates of agricultural specializations. The pathway begins with vocational training and progresses to financing, project establishment, and follow-up, contributing to transforming acquired skills into productive, income-generating projects.
The MoU was signed by Eng. Raafat Mousa Al-Sawafeen, Director General of the Vocational Training Corporation, and Eng. Mohammad Al-Dujan, Director General of the Agricultural Credit Corporation.
Al-Sawafeen emphasized that the Vocational Training Corporation is committed to strengthening integration with various government entities and national institutions, contributing to unified efforts and directing them toward priority sectors with a significant impact on the national economy.
He highlighted the importance of this partnership in supporting the agricultural sector and enabling graduates to utilize their vocational skills to establish their own businesses. He noted that combining training with financing opportunities provides graduates with a practical pathway from acquiring skills to productive work and self-employment.
For his part, Al-Dujan emphasized that the agreement represents a practical translation of government efforts to strengthen partnership and integration among national institutions and direct financing toward individuals who possess the qualifications and capabilities needed to establish viable productive projects.
Al-Dujan praised the role of the Vocational Training Corporation in developing skilled professionals, stressing the importance of linking financing with specialized training to enhance project success, sustainability, and its economic and social impact on local communities.
Under the MoU, the Vocational Training Corporation will provide training for the targeted groups and technically and professionally qualify graduates to establish agricultural projects or businesses related to the agricultural sector. It will also provide the Agricultural Credit Corporation with lists of qualified graduates holding professional practice certificates in the agricultural sector to benefit from available financing opportunities.
In return, the Agricultural Credit Corporation will assess financing applications submitted by Vocational Training Corporation graduates in the agricultural field in accordance with its approved financing policies and regulations, while giving priority to the Corporation’s graduates when granting financing.
The agreement enables qualified graduates to benefit from concessional loans, including interest-free financing, subsidized-interest financing, or Murabaha-based financing, in accordance with approved financing policies and regulations. This will help them establish small, income-generating agricultural projects capable of creating employment for their owners and contributing to job creation within local communities.
The role of the Agricultural Credit Corporation is not limited to providing financing. The MoU also provides for following up with graduates who receive financing, supporting project sustainability, and providing technical assistance to existing projects, thereby enhancing their chances of success and continuity while reducing the risk of project failure.
This partnership reflects a shift from viewing training solely as a stage for acquiring skills toward an integrated system that enables graduates to apply their skills in productive projects and benefit from financing, follow-up, and support mechanisms. It also promotes self-employment and entrepreneurship while supporting agricultural development and job creation in local communities.