ODB finances OM21m for Omani women’s projects

Business Saturday 15/October/2016 18:01 PM
By: Times News Service
ODB finances OM21m for Omani women’s projects

Muscat: State-owned Oman Development Bank (ODB) has funded 6,000 projects promoted by women in the last eight years. This represents 16 per cent of development loans offered by the bank to small-size investments, the total worth of these projects is estimated at OMR21million.
Hamad Al Harthi, the general manager of Oman Development Bank said that the bank does not spare effort to empower the Omani women by providing a window of opportunity to take part in the entrepreneurship world and contribute to the development of national economy.
“The Omani women have a vital role in supporting and developing the national economy in all fields. So, based on its strong believe on the contributions of the Omani women, ODB facilitates funds for women projects in order to enhance women entrepreneurship initiatives that provide more job opportunities for the nationals and meet the needs and requirements of the local market,” Hamad added.
The loans provided to women covered a variety of projects in the fields of industry, agriculture, tourism, health, social services, crafts and professional activities.
The procedures followed at ODB for the development loans are simple, especially the loans for the craft- based projects and home-based projects. There will be more steps to build simpler and faster procedures to give the Omani women more support and encouragement.