More than 268 projects were funded by the Oman Development Bank (ODB) in the Governorate of South Al Batinah from the beginning of 2017 till August, amounting to a total of OMR1.58 million.
Disbursal of loans in the governorate is an ongoing process and there are about 893 loans, valued at a total of OMR4.8 million in the governorates.
The industrial and services sectors bagged a major chunk of these loans, as the total amount of money being given in these sectors for 473 projects reached OMR2.92 million, followed by the agriculture and livestock sectors with 283 projects, funded for a total amount of OMR1.57 million.
Further, ODB funded four projects in the tourism sector, for a total amount of OMR40,000, two projects in the health sector for OMR50,000; and 24 projects in the field of education for a total of OMR185,560.
ODB, at a meeting held in cooperation with the Oman Chamber of Commerce and Industry’s (OCCI’s) South Al Batinah branch, reviewed investment opportunities in the governorate, their economic viability, and some models for economic efficiency projects. Many businessmen, investors and some entrepreneurs, who are looking for investment opportunities that will suit small and medium enterprises in the Sultanate, participated in the meeting.
The meeting was hosted by Hamad bin Salem Al Harthy, director general of ODB, Hamud bin Salem Al Saeedi, president of OCCI South Al Batinah branch, other bank officials in the governorate, such as Seif bin Muhammad Al Zeidy, regional director for the branches of South and North Al Batinah governorates, Malek bin Yaaqoub Al Maouily, branch director in Al Rustaq, and Fatima bin Muhammad Al Ibry, public relations officer at the Al Rustaq branch. The opportunities that were discussed were mainly for financing and investment opportunities in the Sultanate.
ODB seeks to assist the government in the overall economic and social development, helping it achieve developmental plans in various sectors according to the government’s targets that aim to diversify income, especially when it comes to financing small and medium enterprises. ODB provides financial services that target the projects with an added value.