Muscat: The Authority for Small and Medium Enterprises Development (ASMED) entered into an agreement with Oman Development Bank (ODB) to help manage the loan portfolio of SME’s thus, encouraging entrepreneurs registered with ASMED, expand their businesses.

The agreement was signed by Haleema Rashid Al-Zar’ee-Chairperson of ASMED, and Abduladheem Abbas Al-Bahrani-Chairman of ODB Board.

The agreement enables the ASMED to devise and implement funding their Applicants’ Preparedness Programme, designed to assess their abilities and hone their skills. The ASMED will eventually provide marketing and technical support to the funded projects.

Upon the finalisation, The ODB will follow up with approved projects by conducting regular field visits and the funding programmes will be unveiled in the near future.