Saudi ADF to extend investors' loans

(MENAFN) Saudi Agricultural Development Fund (ADF) plans to extend loans to investors who plan to invest abroad in 2014, according to Arab News. Khaled Fuheed, undersecretary of the Ministry of Agriculture, said: "The value of these loans will be determined according to the scale of the project and the guarantees provided. Although the Saudi Agricultural and Livestock Investment Company (SALIC) is a government company with a capital of USD 799 million, it is operated with a private sector culture and mindset." The undersecretary said forming food security committee is one of the recommendations of the Environment Program of the United Nations' Food and Agriculture Organization. "The committee includes the ministries of commerce and industry, planning and economy, the Agricultural Development Fund and food commission," he said.