RIYADH, 15 January — A plan to implement an ambitious agricultural development project in the Kingdom’s southern region at a cost of over SR7 billion will top the agenda of a major conference to be opened by Crown Prince Abdullah, deputy premier and commander of the National Guard, here today.
This is the first forum of its kind, being organized by the Ministry of Agriculture and Water, with the aim of developing the agriculture sector.
“In its early stages, the agricultural development project in Jizan and Tihama areas will cost $7 billion to $8 billion,” said Dr. Abdullah Muammar, Minister of Agriculture and Water, yesterday.
Dr. Muammar added that the Kingdom will need more funds at different stages to implement commercially viable agriculture projects in other areas.
It is hoped that the plan will eventually help diversify the Saudi economy. It is aimed at promoting agricultural projects on the alluvial land stretching up to the border of Yemen in Jizan and the Tihama regions.
A specialist panel, chaired by Prince Naif, minister of interior, recommended its implementation.
The panel was initiated earlier on the instructions of the crown prince to map out a strategy to develop these areas.
Referring to the incentives to be given to local farmers, Dr. Muammar said the agricultural lending policy has not been amended.
“The Saudi Agriculture Bank has been giving loans to needy farmers in all regions of the country and the government has provided more than SR28 billion in interest-free loans to the farmers so far. The government has also given more than 2.7 million hectares of land free of charge to farmers and investors,” the minister said.
The total subsidies to farmers has reached over SR11 billion and the Saudi Agriculture Bank has been directly involved in more than 3,100 agriculture projects in different parts of the country.
The minister said the conference will focus on how to generate substantial funds to support agricultural projects in Jizan and Tihama.
The event, he said, has attracted huge foreign interest with more than 30 international agricultural companies from 18 different countries taking part.
Some 2,500 delegates, including high-ranking officials, local businessmen and representatives from the local agriculture companies, are also expected to attend the conference.
