Latest news with #AgriculturalDevelopmentFund
Argaam
22-05-2025
- Business
- Argaam
TADCO inks SAR 15M financing deal with ADF
Tabuk Agricultural Development Co. (TADCO) signed today, May 22, an agreement with the Agricultural Development Fund (ADF) to obtain an operational financing loan in accordance with ADF's regulations and lending guidelines, a statement said to Tadawul. Valued at SAR 15 million, the loan is scheduled for repayment on May 22, 2027. TADCO expects to receive the funds in the coming days, noting that the loan will support its operational activities and agricultural program. There are no related parties to the agreement, the statement noted. An announcement will be made once the funds are received, it added.
Leaders
18-05-2025
- Business
- Leaders
Hail Region Seals SR8.5 Billion Investment Deals to Spur Growth
Saudi Arabia's Hail region has secured investment agreements worth SR8.5 billion ($2.27 billion) during its flagship investment forum, advancing the Kingdom's push to unlock regional growth and attract private capital. Spanning agriculture, mining, tourism, and logistics, these agreements form part of a broader SR50 billion portfolio of opportunities unveiled at the event. Vision 2030 Fuels Regional Diversification Saudi Arabia now prioritizes untapped potential in smaller regions, luring investors to diversify beyond urban hubs, which aligns with Saudi Vision 2030's goals for a resilient, inclusive economy. The Emir of Hail witnessed the launch of SR8.5 billion in partnerships between government agencies and investors to boost economic growth. Governor Prince Abdulaziz bin Saad emphasized Hail's strategic advantages, including its connectivity across five regions, fertile land, and infrastructure development. Organized under the theme 'Be Part of the Promising Future,' the forum attracted leaders like Investment Minister Khalid Al-Falih and Deputy Environment Minister Mansour Al-Mushaiti. Over 125 investment opportunities, including 14 strategic projects worth SR34.2 billion, aim to empower local businesses. Agricultural Investments Take Center Stage Al-Mushaiti hailed Hail as a prime agricultural hub, citing SR7 billion in funding from the Agricultural Development Fund. The region now contributes over 10% of Saudi Arabia's agricultural GDP. Notably, Hail launched the Middle East's largest trout salmon project, targeting a 50% import reduction and SR5 billion in sales within a decade. Furthermore, new red meat investments will raise self-sufficiency to 61%, while a poultry project expanded to SR11 billion with a recent SR4.5 billion injection. The Saudi Reef program has allocated SR800 million to support local farmers, alongside SR1.2 billion in water and environmental projects under the Saudi Green Initiative. Al-Falih highlighted Hail's SR1.44 billion in foreign investment, with 177 licenses issued to global firms. Over 100 opportunities worth SR50 billion are now on the 'Invest Saudi' platform. A new MoU between the Investment Ministry and Hail Region Development Authority will streamline sustainable growth efforts. The forum also featured nine panel sessions covering 42 investment themes, focusing on tourism, quality of life, agriculture, logistics, energy, and education. Short link : Post Views: 2
Morocco World
06-05-2025
- Politics
- Morocco World
Morocco Supports Over 500,000 Small-Scale Farmers with Subsidized Feed
Rabat – More than half a million livestock farmers across Morocco, mostly smallholders, now count among the beneficiaries of a state-backed effort to ease the burden of feed costs. Agriculture Minister Ahmed El Bouari announced the figures before the House of Representatives on Monday, addressing the mounting pressures small-scale herders face amid shifting weather conditions and market instability. The subsidized feed program, rolled out in response to recurrent droughts, reaches a significant number of farmers who also rely on the government's free veterinary campaigns. El Bouari reported that close to 17 million sheep and goats received vaccinations in recent drives, part of broader efforts to maintain animal health and protect rural livelihoods. He also noted that nearly three-quarters of the Agricultural Development Fund's direct aid and incentives support small-scale farms. The fund, often seen as the engine behind Morocco's rural resilience, channels resources to those with limited land and low livestock numbers. El Bouari also talked about plans for a national program set to launch in the 2025–2026 season. Designed as an integrated and long-term response, the initiative will center on solidarity-based agriculture, with the state fully financing animal production projects. Authorities hope to reverse the decline in livestock numbers and help herders rebuild their flocks over the next few years. At the heart of these efforts is the 'Generation Green' strategy, which the minister described as a roadmap tailored for small and medium-scale farmers. According to ministry data, 80% of Moroccan herders own fewer than 30 head of sheep or goats, a reality the strategy seeks to address through targeted support, infrastructure, and access to resources. In February, Morocco officially announced the cancellation of the Eid Al Adha sacrifice, citing the ongoing drought and related difficulties that have severely affected the country's agricultural seasons and overall economy over the past six years.
Asharq Al-Awsat
28-04-2025
- Business
- Asharq Al-Awsat
Saudi Arabia Boosts Food Security
Saudi Arabia is accelerating efforts to strengthen food security, a strategic objective rooted in the Kingdom's founding and shaped by its desert geography and limited water resources. As part of its Vision 2030, the Kingdom has placed food security among its top priorities, implementing a national strategy to boost local production and promote long-term agricultural sustainability. The agricultural sector's contribution to GDP rose to SAR114 billion ($30.4 billion) in 2024, up from SAR109 billion ($29 billion) the previous year, according to the latest Vision 2030 annual report. Government support, particularly through the Agricultural Development Fund, has fueled the sector's growth. Agricultural loans increased by 54% between 2018 and 2024, reaching SAR5 billion ($1.33 billion). Saudi Arabia has achieved higher self-sufficiency rates across several key products. Domestic production in 2024 included 2.95 million tons of fruit, 3.38 million tons of vegetables, 1.83 million tons of grains, 399,000 tons of eggs, 2.7 million tons of milk, 274,000 tons of red meat, 1.15 million tons of poultry, 217,000 tons of fish, and 8,500 tons of honey. Aquaculture has seen significant growth, with fish production rising from 40,000 tons in 2016 to over 246,000 tons in 2024, driven by investments in sustainable technologies and marine projects. Saudi Arabia is positioning itself as an emerging regional hub for aquaculture. The Kingdom's progress reflects its long-term commitment to food security, supported by initiatives to enhance supply chains, stimulate private sector investment, and advance research and innovation in modern farming technologies. Authorities say the achievements so far signal Saudi Arabia's ability to continue advancing toward self-sufficiency in a more resilient and sustainable agricultural environment.
Argaam
24-03-2025
- Business
- Argaam
NADEC's subsidiary signs financing agreement with ADF for up to SAR 1.1B
National Agricultural Development Co. (NADEC) said that its subsidiary, AlRai National for Livestock (a limited liability company, 51% owned by Nadec), signed a financing agreement with the Agricultural Development Fund (ADF) to fund the establishment of a project focused on intensive livestock breeding (sheep and goats), reproduction, and meat production, with a ceiling of up to SAR 1.1 billion. The financing amount will be disbursed in stages based on the project's progress and the submission of required documents. According to a statement to Tadawul, the 15-years agreement was signed on March 23, with three years grace period. The company clarified that the partners provided guarantees in proportion to their shares in the company, with Nadec offering one of its lands in Wadi Al-Dawasir as collateral, in addition to providing corporate guarantees from the partners in accordance with the approved format by the Agricultural Development Fund. The agreement was signed under the sponsorship of the Minister of Environment, Water and Agriculture (MEWA) Abdulrahman AlFadley, the statement noted, adding that the project aims to enhance local red meat production by developing integrated facilities for breeding (sheep and goats), contributing to increased domestic production. This project is part of NADEC's strategy to strengthen food security within the framework of Saudi Arabia's Vision 2030.
