Under the patronage of His Excellency the Minister of Environment, Water and Agriculture, Eng. Abdulrahman bin Abdulmohsen Al-Fadley, the Agricultural Development Fund signed a Memorandum of Understanding (MoU) with the National Center for Palms and Dates to strengthen cooperation in financing investment opportunities in the agricultural sector and to leverage the Fund’s programs for investors and farmers in support of achieving food security. 

The MoU was signed by the CEO of the Agricultural Development Fund, Mr. Muneer bin Fahad Al-Sahli, and by the CEO of the National Center for Palms and Dates, Dr. Abdulaziz bin Mohammed Al-Sahlawi. 

The memorandum aims to contribute to the development and sustainability of the palm and dates sector and its associated processing industries by financing the operational costs of date purchases. It also seeks to create an integrated ecosystem of services to enhance production efficiency and provide innovative financing solutions tailored to the sector’s needs. 

Mr. Al-Sahli emphasized that this agreement is part of the Fund’s efforts to encourage and support investment in the palm and dates sector. The Fund is committed to diversifying and broadening its financing activities, which include fostering investment in this vital sector by offering loans and addressing the financial challenges faced by investors. The collaboration also aims to create new job opportunities within the sector. 

Dr. Al-Sahlawi, CEO of the National Center for Palms and Dates, stated that the MoU will support commercial activity in seasonal date markets and empower small traders and buyers. It also aims to attract more buyers to these markets, boost financial liquidity for farmers, enhance commercial efficiency, and encourage financing entities to engage in this vital sector. 

Through such agreements, both parties aim to strengthen their developmental roles. The Agricultural Development Fund specializes in financing all areas of agricultural activity to support the sector’s growth and improve its productivity using modern technologies that enhance sustainable food security. Meanwhile, the National Center for Palms and Dates is focused on developing and sustaining the palm and dates sector through a comprehensive ecosystem that provides advanced agricultural and marketing services — including a seasonal markets platform that organizes date markets and transaction processes, while raising quality and efficiency to ensure transparency and protect the rights of all stakeholders.