OMAN SIGNS 2 LOAN AGREEMENTS WORTH RO113.6MN WITH AFESD.
The sultanate's government on Tuesday signed two loan agreements worth of RO113.6mn with the Arab Fund for Economic and Social Development (AFESD).
The first agreement, estimated at around RO38mn, will contribute to the financing of the development and improvement of the second part of road No 32 in the Special Economic Zone in Duqm (SEZD), equivalent to 84 per cent of the total project that cost RO45mn. The project will contribute to the improvement and development of land transport services in the SEZD as it will link the main divisions of the Duqm Development Project, which will facilitate the flow of goods between investment projects in the zone and the rest of the sultanate. The length of this part of the road is 13.8km.
The second agreement worth of RO75.6mn was signed between the AFESD and Oman Housing Bank. It aims to support the bank's housing programmes to finance housing loans granted to Omani nationals.
The agreements were signed by Nasser bin Khamis al Jashmi, secretary general of the Ministry of Finance, Abdul Latif Yousef al Hamad, AFESD director general and chairman of the board of directors and Adnan bin Haidar Darwish, general manager of Oman Housing Bank.
The signing ceremony was attended by Mohammed Jawad Hassan, Acting Undersecretary of the Ministry of Finance, Munther bin Abdullah al Mantheri, deputy chairman of the board of directors of Oman Housing Bank and Dr Ismail bin Ahmed al Balushi, acting CEO of the Special Economic Zone Authority at Duqm (SEZAD).