The Agricultural Development Fund (ADF) has approved a number of developmental and investment loans during its fourth meeting of the current fiscal year.
The meeting, chaired by Minister of Environment, Water, and Agriculture and Chairman of ADF Board of Directors Eng. Abdulrahman Al-Fadley, resulted in loans amounting to SAR735 million being disbursed during the fourth quarter.
This brings the total value of approved loans for the year to SAR6.5 billion.
According to ADF Director General and Deputy Chairman of the Board of Directors Munir Al-Sahli, the approved loans encompass a range of developmental loans aimed at supporting farmers in various regions of the Kingdom. The loans, Al-Sahli said, will also fund investments in diverse sectors, including poultry projects, protected agriculture, inland fisheries and aquaculture, date manufacturing and its derivatives, financing refrigerated warehouses, as well as financing the import of targeted agricultural products in line with the food security strategy. He added that the loans will contribute to funding red meat production projects within the agricultural investment program abroad.
Source: Zawya
