Approving 337 million riyals of agricultural loans and credit facilities

Published Aug 5, 2020

Tridge summary

The article highlights the approval of loans by the Fund, as announced by its Director General, Munir Al-Sahli, to support small and medium enterprises and mitigate the impact of the pandemic. The loans will be used for the import of agricultural products as part of the food security strategy. The Fund will also finance projects in the agricultural sector, including the first veterinary camel hospital, greenhouse projects, broiler chicken production, dried egg powder factory, and will issue guarantees and financial facilities for feed and animal production companies.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Vice-Chairman of the Board, Director General of the Fund, Munir Al-Sahli, stated that the approval of these loans included a program to support working capital and operational costs in small and medium enterprises, and the initiative of the Fund to mitigate the effects of the pandemic (Corona), which is financing the import of agricultural products targeted in the food security strategy through financing Operating loans directly from the fund or indirectly in partnership with commercial banks for projects in several agricultural sectors in a number of regions in the Kingdom, and included financing the first veterinary camel hospital in the Kingdom in support of the livestock sector, in addition to supporting greenhouse projects, production of broiler chicken, and a factory project Dried egg powder, as well as approval to issue a number of guarantees and financial facilities for a ...

Source: Masralyoum