RIYADH — The Agricultural Development Fund’s (ADF) board of directors approved agricultural loans of nearly SR434 million to enhance the sector’s performance and efficiency, and contribute to Saudi Arabia’s food security.

The Board of Directors held its first meeting for the current fiscal year on Monday, headed by Minister of Environment, Water and Agriculture, Chairman of the Board, Eng. Abdulrahman Al-Fadhli, at the fund’s headquarters in Riyadh.

The financing covered development loans for small farmers, and loans for various agricultural projects in target strategic sectors, such as broiler poultry farming, greenhouses, an agricultural product marketing center and dates production.

Other indirect loans were granted in collaboration with commercial banks. The fund has approved SR1.30 billion loans since early 2022. — SG