The Saudi Agriculture Bank has recently agreed to finance agricultural projects in the kingdom with investments amounting to Saudi Riyal (SR) 70 million ($18.6 million).
According to reports in London based Al-Hayat daily, the Director General of the bank, Abdullah Al-Shuaibey, said that the bank is financing agricultural projects in different regions of Saudi Arabia in order to promote farming and poultry industries in the kingdom.
Since its founding in 1964, the Saudi Agricultural Bank has provided over 362,000 loans, valued at approximately SR 27.5 billion ($7.3 billion). In 1999 alone the bank lent SR 903 million ($240 million) to local farmers. —(MENA Report)
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