ADF allocates SR 3 billion for sustainable agricultural rural development programOct 21, 2018, 2:52:18 PM GMT+3 Sustainable Development News Economics News
Director General of Agricultural Development Fund (ADF), Munir bin Fahd Al-Sahli said that the Fund in cooperation and coordination with the Ministry of Environment, Water and Agriculture has prepared a plan of action to provide support funding for the sustainable rural development program, which was approved by the royal order recently amounting to seven billion three hundred and fifty million riyals over seven years, in addition to one billion five hundred million riyals as the capital cost of the project.
Al-Sahli revealed that the fund will allocate about SR 3 billion to finance sustainable rural development, including support for small farmers, breeders, fishers and livestock breeders, as well as support in the areas of marketing, agricultural processing, livestock and fisheries services and necessary logistic services. He added that the plan includes work in cooperation with several bodies, including agricultural cooperatives in various fields, to help them perform their cooperative role in rural development.
Al-Sahli stressed that the Fund works in accordance with its strategy and mission to contribute to the development of rural areas, benefit from comparative advantage to achieve sustainable agricultural development and enhance food security while preserving natural resources to achieve the objectives of the development program.
He expressed his thanks and appreciation to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and HRH Crown Prince for their support and attention to the agricultural sector to enable it to play its role in helping to achieve the national food security. He pointed that the Agricultural Development Fund has been since 54 years and still an active contributor to the development process by providing more than 33 billion riyals for small farmers, in addition to more than 16 billion riyals to support specialized agricultural projects to fulfill their agricultural development aspirations and goals of the agricultural development in different parts of the Kingdom with cooperation of the Ministry of Environment, Water and Agriculture in accordance to the Kingdom's Vision 2030.