Saudi Arabia approves 333 mln riyals in loans for agricultural projects, food imports
Saudi Arabia’s Agricultural Development Fund has approved 333 million riyals ($88.8 million) in loans to finance 12 projects in the country and import food from abroad, state news agency SPA reported on Monday (May 18).
SPA said the projects include vegetable cultivation, poultry, and date factories, and imports include rice, yellow corn and soybeans.
The loans are part of a financial stimulus package to support the private sector through the COVID-19 pandemic, and for food security.
On May 5 the Fund said it was allocating 2 billion riyals ($533.3 million) for the financing of agricultural imports.
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