RIYADH: The Saudi Agriculture Development Fund has approved a number of loans with an accumulated worth of over SR861 million ($229 million) to finance working capital, according to the Saudi Press Agency.
The loans will be utilized in importing some agricultural products targeting the food sector specifically.
The move comes in accordance with attempts to keep pace with current international developments, the Saudi Press Agency reported, citing general manager of the Fund Munir bin Fahd Al-Sahli.
The loans will also ensure the abundance of agriculture products and stability in supply should any disruptions in the supply chains occur.
The agriculture crops targeted include barley, maize, and soybeans.
The loans fall in line with the Fund’s goal to enhance food security and support agricultural activity in the Kingdom.
