ADF approves credit facilities worth SAR 1.5 bln

Logo of Agricultural Development Fund (ADF) 

The Agricultural Development Fund's (ADF) board approved, in a meeting held today, the provision of a number of loans and credit facilities at a total value of SAR 1.5 billion, according to a statement.
 

The facilities include development loans for small farmers, financing loans in the sectors of greenhouse vegetable production, poultry farming and production, fish and shrimp farming, cooling warehouses for agricultural products, processing industries for dates, and marketing centers for agricultural products.
 

The board also endorsed a number of loans for the Program of Financing the Import of Agricultural Products, which are targeted in the food security strategy by offering operating loans directly from the fund and indirectly in partnership with commercial banks to boost the strategic stock of agricultural products and ensure the stability of foodstuff supply chains.
 

Thus, the value of loans awarded by ADF until the end of H1 2023 amounted to more than SAR 4.2 billion.