News 24 | With 1.4 billion riyals, the Agricultural Development Fund approves loans and credit facilities for farmers in several regions

"Agricultural Development FundToday (Thursday), the Board of Directors of the Agricultural Development Fund approved providing financing loans and credit facilities worth 1.4 billion riyals in a number of regions.

Deputy Chairman of the Board of Directors and General Manager of the Fund, Munir Al-Sahli, said that approving the loans confirms the continued role of the Fund in supporting and developing the agricultural sector in all its vegetable, animal and fish fields by increasing the rates of self-sufficiency for some agricultural products targeted in the agricultural policy of the Kingdom.

He added that the loans help cover agricultural supply chains, support logistics and others, contribute to enhancing food security for the Kingdom, and compensate for any shortages that may occur in the supply of agricultural commodities and products.

He indicated that the approved loans included development loans for small farmers and other financing in the sectors of vegetable production in greenhouses, poultry breeding and production, fish farming, cold warehouses for agricultural products and automated poultry slaughterhouses, in addition to approving a number of loans within the program to finance the import of agricultural products targeted in the strategy. Food security.

He pointed out that the value of the loans approved until the end of the first half of the current fiscal year amounted to more than 2.8 billion riyals.

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