Agricultural Development Fund

The Saudi Arab Agricultural Bank was established by Royal Decree No. (58) dated 3/12/1382 AH to be a governmental credit institution specialized in financing various fields of agricultural activity in all regions of the Kingdom to assist in the development of the agricultural sector and increase its productive efficiency using the best scientific and technical methods. Through the provision of soft loans without interest to farmers to secure the necessary activities such as machinery, pumps, agricultural machinery and equipment for the breeding of cattle, poultry and sheep and equipment and beekeeping, fish and others.

On 29 Muharram 1430 AH, the Council of Ministers, after considering the decision of the Shura Council No. (106/71) and dated 4/2/1429 AH approved the system of the Agricultural Development Fund as attached to the resolution. The system will be replaced by the Saudi Arab Agricultural Bank system. The capital of the Fund is 20 billion riyals and the capital may be increased by a decision of the Council of Ministers, taking into account the conservation of water and the rationalization of its agricultural uses and the preservation of the environment. And their sustainability through the provision of soft loans and credit facilities.

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