Oman Development Bank approves development loans exceeding RO 14 million

Muscat: The Board of Directors of the Oman Development Bank today, in its fifth meeting for the current year 2023, approved a group of loans amounting to more than OMR 14 million in various economic sectors, such as the food security sector, the industrial sector, the minerals sector, and the tourism sector. health sector and logistics.

These projects, funded by the bank, will contribute to providing job opportunities for Omani youth, reduce imports and maximize the value of Omani exports. These projects are located in the governorates of Al Buraimi, Dhofar, Al Batinah and Muscat.

The executive branch will continue efforts to achieve the indicators of the operational plan for the current year, and maintain the required levels of growth. The bank’s board of directors has praised the significant role played by the private sector in stimulating the economic movement by adopting projects with high added value to the national economy, taking advantage of the comparative advantage of the governorates in accordance with the urban strategy.

The Board also discussed developments in the bank’s digital transformation project, which will change the bank’s business model and automate all its operations, and this in turn will contribute significantly to improving the bank’s financing services to investors.

In addition, the Board discussed developments in development forums and business opportunities implemented by the Oman Development Bank in The governorates of the Sultanate of Oman, in partnership and cooperation with the governors’ offices within the framework of contributing to the development plans of the governorates in order to achieve the vision of “Oman 2040”. The Council also praised the results achieved from these forums and the investment opportunities offered in them, which amounted to more than a thousand investment opportunities with a value of more than 100 million Omani Riyals.