May 5, 2020 / 8:43 PM / a month ago

Saudi Arabia allocates 2 bln riyals to fund importing agriculture products -statement

RIYADH, May 5 (Reuters) - Saudi Arabia has allocated 2 billion riyals ($533.3 million) to fund importing agriculture products and secure food supplies amid coronavirus fears, a statement by the country’s agriculture development fund said on Tuesday.

The initiative, which will be carried out through a mixture of direct and indirect loans, will target in its first phase products including rice, sugar, soybeans and yellow corn. Other products will be added according to market needs and food security strategy, the statement said. (Reporting by Marwa Rashad Editing by Chris Reese)

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