Loans granted by Saudi ADF soar 96% in 2020

Loans granted to 4,487 projects

  
A Saudi money exchanger wears gloves as he counts Saudi riyal currency at a currency exchange shop in Riyadh, Saudi Arabia March 10, 2020. Image used for illustrative purpose

A Saudi money exchanger wears gloves as he counts Saudi riyal currency at a currency exchange shop in Riyadh, Saudi Arabia March 10, 2020. Image used for illustrative purpose

REUTERS/Ahmed Yosri

Riyadh – Mubasher: Saudi Arabia’s Agricultural Development Fund (ADF) said that lending through the fund has grown by 97% year-on-year (YoY) during 2020.

The total number of loans granted by the ADF last year surged by 96% to 4,487 while the value of approvals granted to finance agricultural projects reached SAR 3.71 billion, according to a statement on Tuesday.

Moreover, the fund said it contributed to financing projects targeted in the food security strategy during the previous year, in addition to the rural development sector and agricultural investment overseas.

Source: Mubasher

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