Near East-North Africa Rural & Agricultural Credit Association


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 region and for fulfillment of the recommendations by FAO 1975 World Conference on Credit for Farmers in Developing Countries for establishing Regional Credit Associations (RACs).

NENARACA enjoys an autonomous financial and administrative status and legal entity.

Aims and Objectives

The main objective of NENARACA is the establishment of strong foundation and guiding principles 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 programs for upgrading agricultural credit and banking skills of the staff of member institutions.


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 rural micro finance institutions( MFIs) which deal with rural credit, as normal members regardless of their limited financial resources.

NENARACA members fluctuate between 20-25 member institutions.

Organization and Management

NENARACA has a General Assembly which is composed of the representatives of all member institutions, and convenes on ordinary meetings once in every tow years, and elects from its members the Executive Board Members for a two –year term office.

The Executive Board consists of the chairman, vice chairman and five members representing the various sub regions of the Near East and North Africa Region.

The Board is responsible for directing the activities of the Association and exercising supervision over the General Secretariat. The General Secretariat which is permanently posted in Amman, Jordan consists of the Secretary General, part time accountant and secretary/typist.

Financial Resources

The financial resources of NENARACA is composed of annual membership fees at a rate of Us$ 5000 per financially capable members and $1000-2000 for small members, payments received to the fulfillment of contracts undertaken by NENARACA for the benefit of others in the field of training activities or research ,translation,…..etc.

In addition, NENARACA receives technical assistance to carry out specific activities requested by international organizations which are interested in agricultural development in the Region.