ODB funds 893 projects for RO 5m in South Al Batinah

Oman Development Bank (ODB) has funded more than 268 projects in the Governorate of South Al Batinah from the beginning of 2017 till now, with a total amount of RO 1,580,152. Disbursal of loans in the governorate is an ongoing process and there are about 893 loans with a total amount of RO 4,873,280 in the governorates.

The industrial and services sectors bagged the major chunk of these loans, as the total amount of money being given in these sectors for 473 projects reached RO 2,924,000, followed by the agriculture and livestock sectors with 283 projects, funded with a total amount of RO1,573,720.

Further, ODB funded four projects in the tourism sector with a total amount of RO140,000, two projects in the health sector with RO 50,000; and 24 projects in the field of education with a total amount of RO 185,560.

ODB, at a meeting held in cooperation with OCCI South Al Batinah branch, reviewed the investment opportunities in the governorate, their economic viability, and some models for economic efficiency projects. Many businessmen, investors and some entrepreneurs who are looking for investment opportunities that will suit the small and medium enterprises in the Sultanate participated in the meeting.

The meeting was hosted by Hamad bin Salem al Harthy, Director-General of ODB, Hamud bin Salem al Saeedi, president of OCCI South Al Batinah branch, other bank officials in the governorate like Seif bin Muhammad al Zeidy, regional director for the branches of South and North Al Batinah governorates, Malek bin Yaaqoub al Maouily, branch director in Al Rustaq, Fatima bin Muhammad al Ibry, public relation officer of Al Rustaq branch.

They mainly discussed the opportunities for financing and the investment opportunities in Oman.

ODB seeks to assist the government in the overall economic and social development, helping it achieve the developmental plans in various sectors according to the government’s targets that aim to diversify income, especially when it comes to financing the small and medium enterprises. ODB provides financial services that target the projects with an added value