Home Construction Saudi agricultural development fund approves over $221 million loans

Saudi agricultural development fund approves over $221 million loans

Saudi Arabia’s Agricultural Development Fund has approved a number of loans and credit facilities worth over SR820 million with a target to bolster the agriculture sector in the Kingdom through different programs, the Saudi Press Agency reported on Monday.
The fund’s board headed by Minister of Environment, Water and Agriculture Abdulrahman Al-Fadhli endorsed among other plans two initiatives to decrease the fallouts of coronavirus, through backing up the standing capitals and operational costs of the small and medium-sized establishments.

The Agricultural Development Fund has approved of loans SR820 million ($221mn).

The board also gave its nod for direct, indirect, and financing of agrarian enterprises, across the Kingdom, in partnership with commercial banks, to import targeted agricultural products comprised of the food security strategy.

Dates’ production, poultry, and fish breeding are included, as well as financing to build a veterinarian services’ complex relating to a live-stock co-operative, import of fodders, and animal production inputs.
The board also target to planting and exporting some crops.

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