Economy
Sultanate of Oman Signs Two Loan Agreements with AFESD

The Government of the Sultanate of Oman, represented by the Ministry of Finance, and the Arab Fund for Economic and Social Development (AFESD) signed two loan agreements worth of RO 150 million for financing development projects in the Sultanate.
The two agreements were signed by Darwish bin Ismail al-Balushi, Minister Responsible for Financial Affairs and Abdullatif Yousef Al Hamad, Chairman, Director General of the Arab Fund for Economic and Social Development (AFESD).
The first agreement worth of RO 89 million will be utilized in financing part of the project for enhancing the water pipelines in the Governorates of Al Batinah (from Sohar to Barka). The funding represents 70% of the total cost of the project (RO 127 Million).
The project will meet the growing demand for potable water and the growing future needs of the Governorates of North Al Batinah and South Al Batinah. The water pipeline will be extended from Barka water desalination and Sohar water desalination plants, which are almost completed. The 140 km water pipelines will reduce water service interruption in both governorates and will provide drinking water for population. It will also meet the needs of the industrial, tourism projects and public utilities in both governorates.
The second agreement wroth of RO 61 million will be utilized in financing the improvement and expansion of the 3rd and 4th parts of Sinaw/Mahout/Duqm road. The funding represents 70% of the total cost of the project (RO 86.8 million).
The project aims at contributing to improving land transport services at the main interchanges at the road network, meeting the needs of growing transport activity, reducing traffic accidents and enhancing the socioeconomic growth in the areas at which the project passes. The project includes a parallel road to the existing road, in addition to improving and expanding the 129 km long road between Sinaw/Mahout/Duqm. The road consists of two lanes, each 3.75-meter-wide, with 2.5-meter-wide side shoulders at each direction.
-
Banking & Finance4 days ago
Oman Arab Bank Announces Increase of Authorised Capital to RO500mn and Paid‑In Capital Boost of RO50mn
-
OER Magazines2 months ago
OER, April 25
-
Renewables1 month ago
Jindal Renewables and OQ Alternative Energy Sign Joint Development Agreement to Advance Integrated Renewable Power Projects in Oman
-
Business2 months ago
St. Petersburg International Economic Forum 2025 unveils its Business Programme
-
Leaders Speak1 month ago
OERLive SPOTLIGHT: Oman Sustainability Week 2025 and Oman Petroleum & Energy Show
-
Alamaliktistaad Magazines1 month ago
Al-Iktisaad, May 25
-
OER Magazines1 month ago
OER, May 2025
-
Bahrain3 days ago
SPIEF 2025 focused on global and regional economic processes, market transformation, new tech, investment climate, financial policy and people
You must be logged in to post a comment Login