The Saudi government has launched the Cooperative Insurance Initiative to mitigate losses caused by plant pests and animal diseases in the agricultural industry.
Minister of Environment, Water, and Agriculture, and chairman of the National Centre for the Prevention and Control of Plant Pests and Animal Diseases (Weqaa), Mr Abdulrahman bin Abdulmohsen Al-Fadhli, officiated at the launch of the initiative that is part of the National Transformation Programme and is being implemented by Weqaa and relevant entities to enhance the sustainability of the agricultural sector, reported Saudi Press Agency.
Mr Ayman bin Saad Al-Ghamdi, CEO of Weqaa, said that the initiative aims to reduce the significant economic losses caused by plant pests and animal diseases and covers the most critical diseases and pests in the plant and animal health sectors.
He pointed out the initiative's importance in protecting agricultural producers from financial losses, safeguarding government support for farmers and livestock breeders through the activation of the cooperative insurance system, and reducing food loss and waste caused by plant pests and animal diseases.
The initiative also aims to stimulate investment in the agricultural sector by reducing risks and ensuring the sustainability of vital resources.