Agricultural Development Fund of Saudi Arabia
The Saudi Agricultural Development Fund (ADF) was established based on royal decree no. 58 on 3 Dhu Al-Hijja 1382AH to become a government credit institution specialized in funding various agricultural activities across KSA in order to help develop the agricultural sector and improve its production efficiency using the best scientific methods and modern technologies. This happens through offering facilitated loans without interest to farmers in order to secure the needs of this activity through providing machinery, pumps, and agricultural equipment for raising cattle, poultry, and sheep, beekeeping and fish breeding, and others.
On 29 Muharram 1430AH, after looking into decision no. (106/71) made by the Consultative Council, on 4 Safar 1429AH, the Council of Ministers approved the system of the ADF with the form attached to the decision. Some of the system’s most prominent features: This system replaces the system of the Saudi ADF. The Fund's capital is SAR 20 billion. Capital increase may be made by a decision of the Council of Ministers, taking into consideration water conservation and rationalizing its uses in agriculture as well as environment conservation. The Fund aims to support and sustain agricultural development by providing loans and credit facilitations.
The Fund’s vision: - Contributing to achieving the agricultural strategy through the use of the best sustainable funding methods.
Contributing to enhancing food security while maintaining natural resources.
Contributing to developing rural areas and utilizing their comparative advantages to achieve sustainable agricultural development.
Achieving sustainable financial independence and operational excellence within the framework of a sound-risk policy.See more