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 Minister AlFadley thanks leadership for allocating SR2 billion to support Saudi food security

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4/15/2020

Abdulrahman Abdulmohsen AlFadley, Minister of Environment, Water and Agriculture, Chairman of the Agricultural Development Fund, extended thanks to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and HRH Crown Prince, Mohammed bin Salman bin Abdulaziz Al Saud, for allocating SR2 billion, in coordination with the National Development Fund, to a new initiative to be launched by the Agricultural Development Fund, as part of the Kingdom's continued efforts to reinforce the food security.

This new initiative aims to finance the import of the agricultural products targeted in the food security strategy, through direct and indirect loans, within the various financing products offered by the ADF. 
"This initiative reflects our wise leadership's ongoing dedication to provide food security and maintain stability in commodity markets for its citizens and residents," said AlFadley.

AlFadley confirmed that the initiative comes in implementation of directives by Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud's - may God bless him - to serve the priorities of development and economic needs within urgent measures approved by the government to combat the economic impact of coronavirus epidemic on the private sector economic activities, including the agriculture sector. And to unify efforts of the concerned authorities in the Saudi food security system, and to preserve stable commodity markets through several support programs to ensure that food supply chains can continue to operate, and that food commodities are available in abundance at markets.

 AlFadley added that this initiative targets in the first stage agricultural products, including rice, sugar, soybeans, and yellow corn. Any other products will be added according to the market needs and food security strategy. 
He also pointed out that this initiative is part of several initiatives approved by the government to help the private sector deal with the impact of the coronavirus pandemic. All these initiatives amounted to over SR70 billion and include financial support, exemptions, relief measures and postponements of some government fees to provide liquidity to the private sector.

He urged all beneficiaries to apply for the ADF online through the e-services on the website (www.e.adf.gov.sa). 

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Last updated: 4/15/2020 9:59 PM
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