07/07/2021
During Tuesday's meeting in the Asharqia Chamber
Al-Mutairi reviews the agricultural activities that the Fund contributed to financing and the various areas of lending
The Director-General of the Agricultural Development Fund in the region, Eng. Saud bin Saleh Al-Mutairi, reviewed the agricultural activities that the Fund contributed to financing during the monthly meeting of businessmen organized by the Asharqia Chamber on Tuesday evening, July 6, 2021, and managed by the Chamber’s Secretary-General, Abdul Rahman bin Abdullah Al-Wabel, that the fund is a government credit institution. Specialized in financing various fields of agricultural activity in all regions of the Kingdom, to help develop the agricultural sector and raise its productive efficiency using the best modern scientific and technical methods, by providing its credit services to achieve the strategic agricultural and water goals of the Kingdom, noting that the Fund aims to contribute to achieving security Food through financing local production and supply chains, raising the percentage of local content, developing marketing and agricultural services, financing the agricultural sector to support sustainable agricultural rural development, crop composition according to the comparative advantage of regions, developing and improving customer experience and providing the best means of financing and services, in addition to encouraging the use of technologies and modern practices to conserve natural resources, and Sensing agricultural productivity through distinguished partnerships with cooperative societies, the private sector and research centers, and ensuring financial sustainability by improving operational efficiency and liquidity management within a sound risk policy, pointing out to the agricultural activities financed by the Fund of two types: Specialized projects, which are the loans in which they are invested. Economic resources to build productive structures and contribute directly to the food security of the Kingdom, and development loans, which are loans provided to finance agricultural fields for rural development for small farmers.
Regarding the Fund's contribution to rural development, Al-Mutairi said that the Fund contributed to financing rural development by providing medium and short-term loans to owners of small farms in line with the rural development program contained in the Supreme Resolution No. Relative to regions, which includes support for small farmers, fishermen, and livestock breeders.
