Saudi agricultural fund approves loans worth SAR 87 mln

Saudi Agricultural Development Fund’s board of directors headed by the Saudi minister of environment, water and agriculture, Abdul Rahman Al Fadhli, approved loans worth SAR 87 million for total investments of over SAR 161 million, Saudi Press Agency Reported.

Aquaculture sector, with over SAR 86 million investments, took over the largest share of the loans at SAR 43 million.

The remaining sectors included poultry and greenhouses projects in different cities such as Riyadh, Medina, Qassim, Hail, Eastern Province and Aseer.

The board also approved raising the fund’s maximum financing limit for projects using modern technologies to 70 percent.

Furthermore, the fund agreed to pay SAR 5 million to finance a natural cool project in Qassim with total investment of SAR 9 million, SPA added.