8 Hrs
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الاقتصادية
Nadik reduces financing limit for Al-Ra'i to 750M riyals
The National Agricultural Development Company ("Nadec") announced an adjustment to the financing agreement with Al-Ra'i National for Livestock and the Agricultural Development Fund. The modification aims to reduce the financing ceiling from 1.1 billion Riyals to 750 million Riyals and to extend the grace period from 3 to 4 years. This comes after reevaluating the project's implementation phases and its financial structure, which helped in developing the execution model and reducing the need for external financing to improve capital efficiency and cash flow management. Additionally, the guarantees linked to the financing were reviewed, without expecting the provision of additional collateral.
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