ADF provides $133mln in loans during 2020

ADF and Banque Saudi Fransi provided credit facilities to companies and investors

  
Saudi currency, riyal, is seen at a local currency exchange in Manama, Bahrain October 16, 2018. Image used for illustrtor purpose only

Saudi currency, riyal, is seen at a local currency exchange in Manama, Bahrain October 16, 2018. Image used for illustrtor purpose only

REUTERS/ Hamad I Mohammed
Riyadh – Mubasher: The Saudi Agricultural Development Fund (ADF) and Banque Saudi Fransi celebrated achieving the objectives of their partnership agreement on Wednesday, state-run Saudi Press Agency (SPA) reported.

Together, ADF and Banque Saudi Fransi provided credit facilities worth over SAR 500 million to companies and investors during 2020 in support of the food security strategy by financing the import of agricultural products.

Meanwhile, the two parties have renewed the agreement related to the financing programme in partnership between the ADF and commercial banks.

The partnership aims to provide financing products that meet the needs of the agricultural sector and contribute to achieving food security as well as the sustainability of natural resources in the kingdom.

Source: Mubasher

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