ODB funds projects worth more than 13m in Musandam

MUSANDAM: A number of productive and service projects worth more than OMR13 million have been financed by the Omani Development Bank (ODB) in the Governorate of Musandam.

The number of projects, financed during the period from 2009 to September 2017, tood at 3,037 and their total worth was OMR13,133,179.

The financing came within the framework of the Bank’s efforts to enhance its development role and encourage entrepreneur’s initiatives to do business in Oman.

This came during a seminar organised by the bank branch on Wednesday in the Governorate of Musandam under the patronage of Sheikh Rashid bin Said Al Kalbani, Wali of Khasab, with the participation of some government departments and Oman Chamber of Commerce and Industry in Musandam.

An exhibition of some of the Bank-funded projects was held on the sidelines of the event.

The Bank’s lending activities for the period from 2009 to September 2017 indicate that the Governorate of Musandam acquired 8 per cent of the total number of loans provided by ODB and 4 per cent of its total value amounted to OMR355 million for all governorates of the Sultanate.

Sectors

The fisheries sector in the Governorate of Musandam got 2,075 loans worth OMR9,212,814. The number of loans for the industry and mining sector amounted to 738 projects worth OMR2,510,705. The number of loans provided by the Bank to the Governorate of Musandam in the agriculture and livestock sector were 148 loans worth OMR768,600.