The Agricultural and Fisheries Development Fund: Strengthening food security

Observer

15-02-2025

The Agricultural and Fisheries Development Fund is one of the key entities contributing to the food security system in the Sultanate of Oman. Since its establishment, it has been dedicated to advancing the agricultural, livestock, and fisheries sectors by financing research and development projects aimed at increasing these sectors' contributions to the Gross Domestic Product (GDP) and improving self-sufficiency rates for food commodities.
Recently, the Fund marked its 20th anniversary since its founding by Royal Decree No. (48/2004) on 15 Rabi' al-Awwal 1425 AH, corresponding to May 5, 2004. Certain provisions were later amended by Royal Decree No. (23/2017), representing a qualitative shift to keep pace with the comprehensive development of the Sultanate and the integration of modern technologies, innovation, investment, marketing, and community partnerships in service of the agricultural and fisheries sectors. The Fund operates as an independent administrative and financial entity.
The Agricultural and Fisheries Development Fund can be described as a government institution with a financing-oriented mandate, primarily focused on conserving, managing, and efficiently utilising agricultural, livestock, and fisheries resources to ensure sustainability.
Among its top objectives are enhancing institutional and human capabilities, preserving and developing these resources, and increasing their contribution to national food security. The Fund also strives to improve marketing systems, adopt best sustainable practices in the sectors it finances, elevate the economic and social well-being of beneficiaries, and boost individual income levels. Additionally, it encourages innovation and investment to achieve sustainable food security development.
The Fund is committed to strengthening the food security system by preserving agricultural, livestock, and fisheries resources, localizing modern technologies, implementing advisory programmes, conducting scientific research, and developing studies and development initiatives. Since its inception, it has worked closely with farmers, livestock breeders, and fishermen to ensure the implementation of these projects using the latest technologies and innovations to enhance efficiency, maintain sustainability, and optimize resource utilization. The Fund prioritizes financing innovative and sustainable projects while also focusing on the transfer and localization of advanced technologies, particularly those that improve the efficiency of agricultural, livestock, and fisheries sectors.
The Fund's organizational structure consists of a Board of Directors and an executive management team. The Board is chaired by the Minister of Agricultural, Fisheries, and Water Resources and includes representatives from various ministries, Sultan Qaboos University, and the private sector. By the end of 2023, the Fund had financed 111 projects in the fisheries sector, 119 projects in the plant sector, and 55 projects in the livestock sector. Some of these projects have been fully funded, while others are still in progress.
The total funding allocated by the Fund for projects continuing until the end of 2024 exceeds RO 6 million, distributed across 23 projects in the plant sector, 14 in the fisheries sector, and 8 in the livestock sector. Furthermore, the Fund remains open to reviewing new funding applications, provided they aim to enhance and sustain food security across the country.