Agricultural, Fisheries Development Fund Finances 22 projects worth over RO 2.8mln in 2022

Muscat: The number of projects funded by the Agricultural and Fisheries Development Fund during the year 2022 reached about 22 projects with a total cost of RO 2.846 million, bringing the number of projects funded by the Fund since its establishment in 2004 until the end of 2022 to 275 projects with a cost A total of 46 million and 157 thousand Omani riyals.

Dr. Masoud bin Suleiman Al-Azri, in charge of managing the work of the Executive Director of the Agricultural and Fisheries Development Fund, said that the projects funded by the Fund are represented in agricultural, livestock and fish projects, and other activities that are consistent with the Fund’s strategy.

He told Oman News Agency (ONA) that the objectives included in the Fund’s 2040 strategy are to strengthen the management of agricultural, animal and fish resources and ensure their sustainability, transfer and localize technologies, especially innovative ones, develop production, processing and marketing systems, analyze the value chain, enhance food safety and quality programs, create job opportunities for Omanis, diversify sources of income and raise the level of income for segments of society.

Beneficiaries, building human capacities, enhancing cooperation with partners, and contributing to providing investment opportunities to enhance food security. He pointed out that the Agricultural and Fisheries Development Fund is currently working on finding a bank for projects in accordance with the standards adopted by the fund, in partnership with private sector institutions in implementing and financing projects and working to diversify sources of self-financing.

He said that the fund applies a number of criteria in order to provide financial support for projects, which reflect the project’s economic importance, effectiveness, efficiency, impact, sustainability, creation of direct and indirect job opportunities, in addition to partnership between the government and private sectors and innovation.

Dr. Masoud bin Suleiman Al-Azri added that the projects funded by the Agricultural and Fisheries Development Fund include the development of various sectors (vegetable, animal, fish, aquatic, food quality and safety), with the aim of developing and localizing modern technologies in the agricultural, fisheries and water sectors, and developing guidance and control systems for various sectors.

Raising food quality and safety, integrated management of agricultural pest control, seedling production, developing economic fields specialized in the production of fruit trees, vegetables, grains, and fish farming, developing traditional irrigation systems in the Sultanate of Oman, animal fodder production program, conservation of plant and animal genetic resources, agricultural and fish marketing, enhancing fish stocks, supporting artisanal fishing, and supporting breeders. cattle.