RIYADH: The Agricultural Development Fund has started forming teams – consisting of Ministry of Agriculture officials, specialists from universities and the private sector – to work out plans to ensure sustainable development. The fund announced seven initiatives last year to ensure this happens. The initiatives include the establishment of a national information center for agriculture, rationalization of water use in irrigation, establishment of one or more bodies for handling and marketing vegetables and fruits, cooperative insurance for the poultry sector, marketing of dates, establishment of a livestock breeding company, and establishment of an entity for marketing fish and shrimps both inside and outside of the Kingdom. Engineer Abdullah Al-Rubai'an said the teams will determine the type of entities required and deal with all legal and financial requirements. He said that there will likely be results in six months which will see training and thousands of jobs for Saudis. There will also better opportunities for small and medium establishments, he said. “As a result of these initiatives, many projects in the service and other sectors will emerge. The Fund intends financially support these projects,” he said. “This will result in massive development in agricultural regions.” He spoke of the King Abdullah initiative on agricultural investment abroad, with support from the private sector. He said the Fund is not connected to this initiative but is ready for a future role if required. On Gulf Cooperation Council (GCC) agricultural investments in the country, Al-Rubai'an said GCC economies are connected and it was important for economic activities to be increased. The Agricultural Development Fund was established in January 2009 to replace the Saudi Arabian Agricultural Bank. The fund started with capital of SR20 billion and aims to ensure sustainable development by providing easy loans and credit facilities. Its prime concerns included preserving water resources by rationalizing their use for agriculture and protecting the environment.
