Saudi Arabia’s agricultural funds boosts food sector, $533m loan

Dubai: Saudi Arabia’s agricultural development fund (ADF) approves $533.33 million (Dh1.9 billion) in loans and credit facilities to boost food sustainability and security across the country. This funding will support various agricultural projects, including red meat and poultry production, greenhouse farming, fish aquaculture, and cold storage facilities.

The decision was made during the ADF’s third board meeting of the year on September 18, chaired by minister of environment, water, and agriculture Abdulrahman Al Fadhli. Despite about 90 per cent of its land being desert, Saudi Arabia is undergoing an agricultural transformation aimed at increasing domestic crop production and decreasing reliance on imports.

The country has achieved full self-sufficiency in dates, fresh dairy products, and table eggs, according to the General Authority for Statistics. By boosting local production and stabilising supply chains, the ADF is playing a role in advancing the country’s food security goals while promoting long-term agricultural sustainability, in alignment with Saudi Vision 2030.The Saudi Vision 2030 is a government programme launched in 2016, with the main aim of diversifying away from oil.