Saudi agriculture fund finances projects worth $480 million

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, Arab News reported, citing an official statement.

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

The minister said agricultural investments in Saudi Arabia, funded by the Agricultural Development Fund, have grown over the last four years by around 400 per cent, 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 added.