ODB Musannah finances 536 projects worth RO 3 million

Mubarak Khalifah al Mairki, Director of Musannah branch of ODB, announced the bank has financed 536 agriculture and fisheries projects. The total value of these finances was RO 3 million which 41 per cent of the total finance was provided by the branch.

He said ODB is committed of the promising sector which corresponds with the directions of the government to support the preferred sectors in the national economy.

The Musannah branch of the Oman Development Bank (ODB) organised forum of investment opportunities in the agriculture and fisheries, under the auspices of Shaikh Hamoud bin Hamad bin Salem al Wuhashi, Governor of Wilayat Musannah.

It was aimed at introducing important investment opportunities in these sectors as well as the role of the bank in supporting the farmers and fishermen.

Mubarak Khalifah al Mairki, Director of Musannah branch of ODB, said that the forum was a major opportunity to know the latest methods of using lands in large scale, particularly in the wilayats of South Al Batinah Governorate which is known for the quality of its agricultural projects which are increasing the income of the citizens and their living standards. Agriculture in wilayats of Musannah and Barka is considered as mainstay of the citizens. This is the main profession of most of the people in the area of the branch.

Engineer Aqil bin Yousef al Baloushi presented the working paper of the Department of Agriculture and Livestock titled ‘Supporting Agricultural Supplies’.

The paper highlighted major agricultural problems and challenges in the Sultanate, mainly water shortage, small area of agricultural land, weak marketing, high water salinity etc.

He said the objectives of the Ministry of Agriculture and Fisheries is to take advantage of the modern methods of irrigation, especially reducing water depletion and working on the establishment of a company or a body for agricultural marketing.

Al Baloushi said the support provided by the Ministry of Agriculture and Fisheries to the farmers in the Sultanate, are either for the approach of green houses, or dual protected green houses.

The financial support is between RO 2,000 and RO 6,000. He said that the support is linked with the umbrella of the size of the green houses, as well as there is a huge support for tillers and other agricultural machines.