We thank God and to him we resort. Peace and prayers be upon Prophet Mohamed.
I am happy to present the 54th annual report of the ADF for fiscal year (FY) 1438/1439AH (2017). With the support and directives of the wise leadership, the Fund continues to effectively contribute to achieving food security and sustainability of natural resources. This happens through providing funding to farmers, breeders, fishermen, and agricultural cooperative associations, as well as projects that provide supporting products and services based on the comparative advantages of each region in KSA. This takes place by supporting sustainable cultivation and agricultural development as well as the efficient use of resources, and encouraging the use of modern technologies and optimal utilization of human and financial resources and information technology systems. This also happens by achieving sustainable financial independence, helping capital growth, and developing governance as well as comprehensive risk management.
In FY 2017, the Fund implemented its approved strategy in accordance with the specified timetable, in line with the strategy of the Ministry of Environment, Water and Agriculture to contribute to achieving the 2020 National Transformation program and the 2030 Kingdom's vision which is expected to achieve
food security through the strategy laid by by the Fund’s board of directors for the upcoming phase to develop the agricultural sector in KSA. The strategy also aims to increase investments in the sector of aquaculture and poultry, in addition to the sectors of broiler poultry and greenhouses. This report explains the total approved loans for FY 1438/1439AH (2017). They reached SAR 617 million, with 36% increase, taking the total loans offered by the Fund since establishment up until DY 1438/1439AH (2017) to SAR 49 million.
At the end, on behalf of myself and my fellow director board members, I would like to extend thanks and gratitude to the Custodian of the Two Holy Mosques and the Crown Prince for the support they offer to this sector. I also extend my thanks to the Fund’s administration and staff for their continuous efforts to serve the agricultural sector.
Peace and blessings be upon you.