Posted by : Aahil Shaik Wednesday, May 6, 2020
Saudi Arabia to spend 2 billion Saudi Riyals on Securing Food Supply during Coronavirus
Saudi Arabia's agriculture development fund said that the Kingdom has allocated 2 billion Saudi Riyals to fund importing agriculture products and secure food supplies during Coronavirus fears. Trending : Saudi Arabia recovers 1352 cases in a day from Coronavirus
The initiative to be carried out through a mixture of direct and indirect loans, The target in the 1st phase for products like rice, sugar, soybeans and yellow corn, the other products will be added as per the market requirement and food security strategy. Recommend : 96% of ICU beds in Saudi Arabia are still empty during Coronavirus
- This initiative goal is to meet development priorities and economic needs with the urgent initiatives approved by the Kingdom's government to address the impact of the deadly Coronavirus.
- The other goal is to reduce the expected economic impact on private sectors and economic activities, including the agricultural sector said the statement. Most Viewed : Ministry sets rules for private companies to reduce working hours and salaries
- The Kingdom has grown increasingly dependent on grain imports, becoming a major importer of wheat and barley since 2008 to become self -sufficient as desert farming was draining scarce water supplies.