𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭 𝐚𝐧𝐝 𝐢𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐥𝐨𝐚𝐧𝐬 𝐚𝐦𝐨𝐮𝐧𝐭𝐢𝐧𝐠 𝐭𝐨 𝐦𝐨𝐫𝐞 𝐭𝐡𝐚𝐧 1.1 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐫𝐢𝐲𝐚𝐥𝐬

The Board of Directors of the Agricultural Development Fund held its first meeting for the current fiscal year, chaired by His Excellency the Minister of Environment, Water, and Agriculture, and Chairman of the Board, Eng. Abdulrahman bin Abdulmohsen Al-Fadley. During the meeting, the board approved several development and investment loans totaling more than 1.1 billion riyals, with investment costs approaching 2.2 billion riyals.

The approved loans and financing requests covered a variety of sectors, including development loans, investment financing in poultry and automated slaughterhouse projects, greenhouse projects, inland aquaculture and fish production, and red meat production. Additionally, the board approved funding for the import of agricultural products targeted within the food security strategy.

The board also approved the annual report of the fund’s activities for the previous fiscal year, the strategic risk tolerance limits for 2025, and discussed the fund’s general performance report for the past fiscal year, as well as the performance report from the beginning of the current fiscal year until the end of February. Furthermore, the board reviewed reports from its subcommittees, was briefed on the annual reports of the committees for the fiscal year 2024, and made the appropriate recommendations accordingly.