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ODB Approves 1394 Loans Worth RO 13.6 Million.

Muscat, July 11 (ONA) --- Oman Development Bank (ODB) approved 1394 development loans during the first quarter of 2016 worth RO 13,609,708 in various high value-added service productive sectors of the national economy.

The loans are part of the efforts made by the Bank to promote private sector investments in productive activities and services in the country, as well as the provision of development finance for their investments.

The industry sector comes first in terms of development loan volume with 606 loans for industrial investment that constitute 43 percent of the total number of loans granted by the bank. The loans worth RO 7,591,991 comprising 56 percent of the value of loans provided by the bank.

The fisheries sector came second with 390 loans, constituting 28 percent of the total loans, worth RO 1,656,789 comprising 12 percent of the value of the development loans provided by the Bank. The agriculture and livestock sector obtained 282 loans from ODB, with 20 percent of the volume of loans, worth RO 1,584,893 constituting 12 percent of the value of provided loans.

The number of loans provided to the education and health services were 31 loans, constituting 2 percent of the number of loans, worth RO 775,169. The loans provided to the tourism sector and professional services were 85 comprising 6 percent of the number of loans that worth RO 2,866,000.

In contribution to the delivery of all ODB products to all parts of the Sultanate, which results in the stability of citizens in their wilayats and the exercise of their traditional activities, the bank provided 1186 small loans that worth RO 4,459,964.

The number of small loans amounted to 79 loans, accounted for 6 percent of the total number of loans with a total amount of RO 2,217,645 constituting 16 percent of the value of loans.

The 203 microloans with interest amounted to 15 percent of the number of loans worth RO 835,972 and accounted for 6 percent of the loan value.

The number of interest-free loans were 983 accounted for 71 percent of the number of loans, valued at RO 3,623,992 constituting 27 percent of the loan value.

The number of working capital loans amounted to 120 accounted for 9 percent of the number of loans totaling RO 2,632,099 constituting 19 percent of the value of loans.

The number of large loans granted by ODB were 7 worth RO 3,805,000. The bank provided two medium loans worth RO 495,000.

--- Ends/MN/KH

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Publication:Oman News Agency
Date:Jul 11, 2016
Words:448
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