Agricultural Development Fund board approves 2022 budget

14/12/2021 Argaam

Logo of Agricultural Development Fund 

Saudi Arabia’s Agricultural Development Fund (ADF) board of directors approved 2022 budget, including a financing portfolio of SAR 3.1 billion, according to a statement.

 

The fund allocated SAR 3.25 billion for loan disbursement.

 

ADF also ratified a number of investment and development loans and financial guarantees exceeding SAR 511 million. Accordingly, a total of SAR 2.5 billion loans has been approved this year.

 

This, in turn, underpins the fund’s continuous support of the agricultural projects, in several sectors including farming, poultry, and fish farming.

 

The fund also provides credit facilities to its clients, in partnership with the commercial banks to finance the working capital of specialized projects.

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