RIYADH: Support packages worth around SR2.45 billion ($652 million) from the Agricultural Development Fund (ADF) have helped to mitigate the impact of the coronavirus pandemic on the agricultural sector as well as strengthening food security in the Kingdom. The fund has been keen to support its clients to ensure the continuation of activities.
It launched a SR2 billion food security strategy initiative to finance the import of specific agricultural products. It has also approved four contracts worth SR348 million. This initiative focuses on importing rice, sugar, yellow corn and soybeans from abroad.
![]()
Saudi agriculture fund initiatives help to mitigate virus impact
Short Url
https://arab.news/p4xkf
Saudi agriculture fund initiatives help to mitigate virus impact
- This initiative focuses on importing rice, sugar, yellow corn and soybeans from abroad
Saudi-Yemen program provides $81.2m to operate more than 70 power plants
- Grant will improve reliability of electrical power to critical facilities, including hospitals, medical centers, roads, schools, airports and ports
- Move follows last week’s announcement by the SDRPY of a larger aid package totaling $506 million to support Yemen
LONDON: A tripartite agreement was signed on Wednesday between the Saudi Development and Reconstruction Program for Yemen, the oil company Petromasila, and Yemen’s Ministry of Energy and Electricity to supply petroleum derivatives for the country’s power plants.
SDRPY is supporting the Yemeni government with an $81.2 million grant to purchase 339 million liters of diesel and mazut from Petromasila to operate more than 70 power plants across various Yemeni governorates.
The grant follows last week’s announcement by the SDRPY of a $506 million aid package to support Yemen’s education, health, government and infrastructure sectors.
The SDRPY highlighted that the grant will improve the reliability of electrical power to critical facilities, including hospitals, medical centers, roads, schools, airports and ports. Additionally, the funding will stimulate the Yemeni economy and support the Central Bank of Yemen by easing the pressure on foreign exchange reserves.
It reduces the Ministry of Finance’s fuel-related financial burden and supports the Ministry of Electricity and Energy in improving the efficiency of power plants in Yemen, the SDRPY said.
In 2018, the SDRPY provided $180 million, in addition to $422 million in 2021 and another $200 million in 2022, as grants to Yemen to purchase oil derivatives and operate vital sectors of the country.
Latest updates
© 2026 SAUDI RESEARCH & PUBLISHING COMPANY, All Rights Reserved And subject to Terms of Use Agreement.