The Agricultural Development Fund and Banque Saudi Fransi celebrated the achievement of the objectives of the partnership agreement between the two parties represented in providing credit facilities with a value of more than 500 million riyals to the beneficiaries of companies and investors during the year 2020, with the aim of supporting the food security strategy in the Kingdom by financing the import of agricultural products and supplies, and the two parties also renewed the agreement Of the financing program in partnership between the Fund and commercial banks.

The agreement was signed by Munir bin Fahd Al-Sahli, Director General of the Fund, and Ryan bin Mohammed Fayez, CEO and Managing Director of Banque Saudi Fransi, in the presence of a number of officials from both sides.

The partnership agreement aims to provide financing products that meet the needs of the agricultural sector and contribute to achieving food security and the sustainability of natural resources in the Kingdom, by providing credit facilities through the bank represented in obtaining loans or documentary credits and refinancing them. The agreement has contributed to increasing the share of the agricultural sector from Financing commercial banks and banks and promoting agricultural development initiatives through sustainable financing means, which enables both the fund and the bank to contribute to the development of the agricultural economic sector, and to achieve the ideal partnership between the government and private sectors in the Kingdom, which is one of the strategic goals of the Kingdom's Vision 2030.

Through these agreements with banks and commercial banks, the Fund seeks to enhance its role in contributing to food security by implementing the agricultural strategy through the best means of sustainable financing, helping and facilitating the fund's corporate clients and investors by developing new options for financing provided to them, and obtaining financing and services in the field of Documentary credits and credit facilities provided by banks and commercial banks.