Loans worth OMR37m given by Oman De­vel­op­ment Bank

Times of Oman - - THEBRIEFING - Times News Ser­vice

MUSCAT: Loans worth about OMR37 mil­lion were dis­bursed by the Oman De­vel­op­ment Bank (ODB) in the first eight months of the cur­rent year in dif­fer­ent gov­er­norates of the Sul­tanate.

The num­ber of dis­bursed loans from Jan­uary un­til Au­gust this year stood at 3,984 and the to­tal amount was OMR36,736,497.

The loan dis­bur­sal is within the frame­work of the bank’s strat­egy to en­hance eco­nomic di­ver­si­fi­ca­tion as part of the gov­ern­ment’s strat­egy to fund de­vel­op­men­tal projects in the Sul­tanate. The in­dus­trial sec­tor was pro­vided with 1,442 loans, rep­re­sent­ing 36 per cent of the to­tal num­ber of loans pro­vided by the bank. The to­tal amount that was given for this sec­tor reached OMR16,652,650.

Ma­jor part

The in­dus­try and crafts sec­tor formed 78 per cent of the to­tal amount of loans dis­bursed for the eco­nomic sec­tors.

A ma­jor part of the loans has been dis­bursed to the in­dus­trial sec­tor as the bank wanted to in­crease in­vest­ment in the in­dus- trial ar­eas in var­i­ous gov­er­norates and to co­op­er­ate with the gov­ern­ment strat­egy of ex­pan­sion in in­dus­trial in­vest­ments and in­dus­trial zones.

ODB dis­bursed 1,152 loans to the fish­eries sec­tor rep­re­sent­ing 29 per cent of the to­tal loans, with a value of OMR4,798,651. The sec­tor came sec­ond in terms of the num­ber of loans dis­bursed by the bank.

The Agri­cul­ture and Live­stock sec­tor came third after be­ing ex­tended 657 loans, which rep­re­sented 16 per cent of the to­tal num­ber of loans given, for a to­tal amount of OMR4,216,974.

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