Agricultural Development Fund offers 467,000 loans worth SAR 55 billion

21/10/2022 Argaam

Agricultural Development Fund offers 467,000 loans worth SAR 55 billion

Logo of Agricultural Development Fund (ADF)

Saudi Arabia's Agricultural Development Fund (ADF) stated that it has offered 467,000 loans worth nearly SAR 55 billion since its establishment and until the end of 2021, Saudi Press Agency reported.

 

Alaa Siddiq, ADF's Consultant, said the services include financing specialized projects such as poultry, greenhouses, fish farming, and food manufacturing industries.

 

The development loans target farmers, livestock keepers, bees and fishermen, in addition to financing foreign agricultural investment projects.

 

Siddiq pointed to the Working Capital Financing Initiative to import agricultural products targeted for food security, which aims to enhance food security and support strategic inventory.

 

The statement came on the sidelines of the Saudi Agriculture 2022 Exhibition and the Saudi Agri-Business Forum.

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