The Agricultural Development Fund (ADF) has announced the allocation of over SAR2 billion in loans and credit facilities across Saudi Arabia. These funds will support various sectors, including red meat production, poultry, greenhouse vegetable production, fish farming, and cold storage facilities.
During the third meeting of the fiscal year, chaired by Minister of Environment, Water, and Agriculture, Eng. Abdulrahman bin Abdulmohsen Al-Fadley, ADF Chief Executive Munir bin Fahd Al-Sahli outlined the board’s approval of the financial provisions.
Additionally, the fund will collaborate with banks to finance working capital for importing targeted agricultural products, aligning with the Kingdom’s food security strategy. This initiative aims to bolster strategic reserves and ensure stable food supply chains.
The board also reviewed a report on the status of agricultural projects funded by the ADF over the past five years, evaluating their operation, production, and funding achievements. Furthermore, they assessed the ADF’s performance from the start of the current fiscal year through the end of August.