Oman signs loan agreements with AFESD worth US$ 294 Mn

Posted on 17th July 2019

Oman signs loan agreements with AFESD worth US$ 294 Mn
Image courtesy of: https://timesofoman.com/uploads/images/2018/01/30/816432.jpg

According to *Times of Oman news report, the Sultanate’s government yesterday signed two loan agreements with the Arab Fund for Economic and Social Development (AFESD) worth OMR113.6 million.

The first agreement, estimated by about OMR38 million, will contribute to the financing of the development and improvement of the second part of Road No. 32 in the https://timesofoman.com/uploads/images/2018/01/30/816432.jpg, equivalent to 84 per cent of the total project that cost OMR45 million.

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 13.8 km.

The second agreement was signed between the AFESD and Oman Housing Bank, that worth OMR75.6 million. It aims to support the Bank’s housing programs 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 agreements’ 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 of Duqm (SEZAD).

*News source: https://timesofoman.com/article/1617642/Oman/Oman-signs-financing-pacts-worth-more-than-OMR100mn-for-two-projects

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