2 Hrs
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الاقتصادية
Naqik Cuts Livestock Funding to 750m
The National Agricultural Development Company "NADEC" has reduced the funding ceiling allocated for the livestock breeding project with Al-Rahee National for Livestock from 1.1 billion riyals to 750 million riyals, along with extending the grace period from 3 to 4 years. These adjustments were made at the company's request following a review of the project's implementation phases and its financial structure, aimed at improving capital efficiency and the flexibility of the financial structure. Additionally, the total financing period has been modified to 16 years, up from 15 years, while maintaining the previous guarantees which include land pledges and company guarantees. These guarantees have been reviewed to align with the new ceiling without the need for additional collateral.
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