Saudi Arabia’s Agricultural Development Fund (ADF) has allocated $533.33 million to bolster agricultural projects and enhance food security across the kingdom.

This funding will support initiatives in red meat and poultry production, greenhouse farming, fish aquaculture, and cold storage facilities, as announced during the ADF’s third board meeting, chaired by Minister of Environment, Water, and Agriculture Abdulrahman Al-Fadhli.

Despite its challenging desert environment, Saudi Arabia continues to make significant progress in agriculture, focusing on increasing domestic production and reducing reliance on food imports. The kingdom has achieved self-sufficiency in several key areas, including dates, fresh dairy products, and table eggs.

The ADF’s investment aligns with Saudi Vision 2030’s goals to strengthen food security by boosting local production and stabilizing supply chains.

Munir bin Fahd Al-Sahli, the ADF’s chief executive, highlighted the significance of working capital financing, facilitated through partnerships with banks to support importing essential agricultural products.

During the meeting, the board reviewed the performance of agricultural projects funded by the ADF over the past five years, assessing their operations, production outcomes, and funding goals. They also examined the ADF’s overall performance report for the current fiscal year.

Mansour Al-Mushaiti, vice minister of the Ministry of Environment, Water, and Agriculture, emphasized Saudi Arabia’s substantial growth in agricultural investments during the 43rd session of the UN Food and Agriculture Organization’s General Conference in July 2023. He noted that domestic agricultural production surpassed $26 billion in 2022, marking a record achievement.

The kingdom has also reached noteworthy levels of self-sufficiency, particularly in cultivating technologically advanced crops, showcasing the success of its initiatives to strengthen the agricultural sector.

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