Saudi Agricultural Development Fund Approves Financing Loans Worth SAR 1.7 Billion
Riyadh, Saudi Arabia — The Saudi Agricultural Development Fund has approved financing loans and credit facilities totaling SAR 1.7 billion during its second meeting of the fiscal year. Chaired by the Minister of Environment, Water, and Agriculture, Engineer Abdulrahman bin Abdulmohsen Al-Fadhli, the meeting focused on supporting multiple agricultural sectors across the Kingdom.
Boosting Food Security and Agricultural Development
CEO Munir bin Fahd Al-Sahli explained that the approved loans include direct support for farmers. This covers greenhouse vegetable production, poultry and inland fish farming, cold storage for produce, and marketing centers. In addition, the Saudi Agricultural Development Fund approved loans through its Agricultural Product Import Financing Program. This initiative targets essential goods tied to Saudi Arabia’s food security strategy.
The fund is working with commercial banks to deliver indirect financing. These efforts aim to strengthen strategic inventory and stabilize the food supply chain. Notably, total loan approvals for the first half of the year have now exceeded SAR 3 billion.
Strategic Goals Aligned with Vision 2030
According to Al-Sahli, these loans reflect the fund’s ongoing commitment to develop Saudi Arabia’s agricultural sector. The initiative also aligns with national goals to increase self-sufficiency and expand agricultural logistics. Furthermore, the Saudi Agricultural Development Fund continues to analyze the performance of its programs and business areas to ensure sustainable impact.
Continued Government Support
The board also reviewed the fund’s half-year performance report, along with updates from subcommittees. Al-Sahli expressed gratitude to Saudi leadership for supporting the fund’s mission to strengthen national agriculture. He confirmed that this support enables the fund to fulfill its developmental and financial roles in achieving long-term food security and economic stability.
