Saudis grant $90 million to shore up agriculture sector
The Saudi Agricultural Development Fund (ADF) has approved $90 million of financial loans and credit guarantees to support its agriculture sector.Arab News reports that the ADF will finance broiler chicken operations as part of the wider agricultural support strategy.
Munir Al-Sahli, deputy chairman and director general of the Saudi Agricultural Development Fund said that the loans include a programme to support working capital and operation costs from small and medium-sized agricultural businesses.
The money is also geared towards addressing the economic damage stemming from the COVID-19 pandemic and supporting food imports.