On September 19, 2024, the board of directors of the Agricultural Development Fund (ADF) convened for its third meeting of the fiscal year, led by Eng. Abdulrahman bin Abdulmohsen Al-Fadley, the Minister of Environment, Water, and Agriculture. During this meeting, ADF Chief Executive Munir bin Fahd Al-Sahli announced the board's approval of more than SAR 2 billion in loans and credit facilities.
These funds will be distributed across various regions of the Kingdom, supporting developmental loans and project financing in sectors such as red meat production, poultry (including broilers and eggs), greenhouse vegetable production, fish farming, and the establishment of cold storage facilities. Additionally, working capital will be financed in collaboration with banks as part of a program aimed at importing essential agricultural products, aligning with the food security strategy that seeks to enhance strategic reserves and stabilize food supply chains.
Al-Sahli highlighted that the board reviewed a report detailing the status of agricultural projects funded by the ADF over the last five years, examining their operational success, production levels, and achievement of funding objectives. Furthermore, the board assessed the overall performance report of the ADF for the current fiscal year up to the end of August.