Saudi Arabia triples agriculture investments abroad
Abu Dhabi: Saudi Arabia’s Agricultural Development Fund loans have grown by 300 per cent since 2016 to be worth more than 3.7 billion riyals, a senior official said.
Munir bin Fahd Al Sahli, Director General of the Agricultural Development Fund, said part of the fund’s investments abroad was to mitigate the impact of the COVID-19 pandemic, expecting that the fund will continue to support the agricultural sector in full coordination with the Ministry of Environment, Water and Agriculture and the National Development Fund to support the food security strategy in the Kingdom.
While the programme to support Saudi investments abroad aims to diversify and stabilise sources of foreign food supplies as part of the Kingdom’s food security initiative, and covers projects that produce eight basic crops, the investment portfolio of the Agricultural Development Fund abroad amounted to one billion riyals, an increase of