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APO Group - Africa Newsroom / Press release | Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and Kingdom of Saudi Arabia s (KSA) Agricultural Development Fund Collaborate to Strengthen Agricultural Sector

Saudi Arabia Provided $17 Billion in Loans to Support Food Security

The Saudi Agricultural Development Fund approved over the past year loans exceeding SAR 6.474 billion ($1.7 billion), bringing the total value of loans provided until the last fiscal year to more than SAR 65 billion ($17.3 billion).

IFAD President: Saudi Arabia Key Partner in Global Efforts Against Climate Challenges

In a time where warnings about overlooking the crises of climate change, food scarcity, and water scarcity are prevalent, Alvaro Lario, the President of the International Fund for Agricultural Development (IFAD), emphasized that the Fund is effectively addressing these challenges. Lario underscored the pivotal role of the Kingdom of Saudi Arabia as a key player in specialized international efforts, reflecting positively on the outcomes of agricultural development strategies.

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