The Agricultural Development Fund approves loans worth more than 1.1 billion riyals
In its first meeting of the current fiscal year, chaired by the Minister of Environment, Water and Agriculture and Chairman of the Board of Directors, Abdulrahman bin Abdulmohsen Al-Fadley, the Board of Directors of the Agricultural Development Fund approved several development and investment loans worth more than 1.1 billion riyals, with investment costs approaching 2.2 billion riyals.

The approved loans and financing applications varied between development loans and investment financing for poultry projects, automated slaughterhouses, greenhouse projects, inland fish farming and production, and red meat production. These loans also finance the import of agricultural products targeted by the Food Security Strategy. This confirms the Fund's commitment to strengthening its development and financing role for agricultural activity in accordance with the Fund's strategic objectives and in alignment with the policies of the Ministry of Environment, Water and Agriculture and the Food Security Strategy. The Board approved the Fund's annual report on its activities for the past fiscal year, as well as the strategic risk tolerance limits for 2025. It also discussed the Fund's overall performance report for the past fiscal year and the Fund's performance report from the beginning of the current fiscal year through the end of February. The Board noted that the Board of Directors approved the updated regulations for its committees and reviewed the memoranda of its subcommittees. The Board was briefed on the annual reports of these committees for the past fiscal year 2024 and made appropriate recommendations.
The Fund's CEO noted the support and assistance he receives from the Saudi leadership, enabling him to fulfill his role in financing the Fund's activities in supporting the agricultural sector, contributing to achieving food security and enhancing the availability of agricultural products.
Source: www.mubasher.info