Saudi agriculture fund finances projects worth $480mln

Aricultural investments in Saudi Arabia, funded by the Agricultural Development Fund, have grown over the past four years

  
A Saudi farmer plucks rice plantation, known as "Hassawi Rice" in a rice field in Al-Ahsa, Saudi Arabia, September 10, 2020. Image for illustrative purposes.

A Saudi farmer plucks rice plantation, known as "Hassawi Rice" in a rice field in Al-Ahsa, Saudi Arabia, September 10, 2020. Image for illustrative purposes.

REUTERS/Ahmed Yosri

RIYADH: Saudi Arabia’s Agricultural Development Fund approved funds worth SR1.8 billion ($480 million) to support different agricultural projects in the Kingdom since the beginning of the year, Argaam reported citing an official statement.

At a recent G20 meeting in Italy, Saudi Minister of Environment, Water and Agriculture Abdul Rahman Al-Fadhli said the Kingdom has allocated SR12 billion to support small farmers.

The minister noted that agricultural investments in Saudi Arabia, funded by the Agricultural Development Fund, have grown over the past four years by about 400 percent, which has contributed to building a resilient and sustainable food system.

The Kingdom has turned to modern technical methods in the field of agricultural extension, with the aim of reaching the largest segment of farmers in a faster and more efficient manner, the minister said.

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