Media ININ Economy We Trust
MediaIn / Agencies / Riyadh 14 May 2018
The Board of Directors of the Saudi Agricultural Development Fund approved the financing of a number of agricultural loans valued at more than 150 million riyals during the management meeting held under the chairmanship of the Minister of Environment, Water and Agriculture Saudi Chairman Abdulrahman bin Abdul Mohsen Al-Fadhli. The Deputy Chairman of the Board of Directors, Munir bin Fahad Al Sahli, said that the agricultural projects approved for financing covered several areas in the Kingdom, including projects in the fields of poultry, brothels and date processing. The total funding of the poultry sector was more than 18 million riyals, In addition to the financing of the Timur factory of about 11 million riyals, and the financing of indirect working capital in partnership with the commercial banks to finance the import of agricultural products worth more than 112 million riyals. Al-Sahli pointed out that the Board of Directors approved the financial statements of the Fund for the fiscal year 1438 / 1439H 2017. During the meeting, the Fund’s general performance report was discussed until the end of April 2018. The financial balance and financial indicators were achieved. The Council also reviewed the work and reports of the committees emanating from it, where the Council adopted appropriate recommendations. Al-Sahli explained that the Council discussed the strategy and the executive plan to finance the Saudi agricultural investment responsible abroad, and recommended completing the necessary procedures.
