Banque Saudi Fransi inks deal with Agricultural Development Fund to provide financing

Saudi Arabia’s Agricultural Development Fund (ADF) has signed a partnership agreement with the Banque Saudi Fransi (BSF) in Riyadh to provide credit facilities and financing products to the fund’s clients, Saudi Press Agency (SPA) Reported.

Under the agreement, the bank will provide loans, letters of credit and refinancing services in order to increase the share of the agriculture sector from the financing facilities offered by commercial banks.

The statement did not mention an amount for the allocated funds.

ADF’s Deputy General Manager for Investment and Treasury Firas bin Saleh Al-Saeed and the bank’s Director of Government Institutions Nawaf bin Youssef Al-Zukair signed the deal in an effort to help support the agricultural sector and contribute to food security and sustainability of natural resources, SPA said.