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ODB disburses loans worth OMR405mn

Business Monday 06/August/2018 15:49 PM
By: Times News Service
ODB disburses loans worth OMR405mn

Muscat: The number of development loans provided by Oman Development Bank (ODB) from 2009 to June 2018 for many economic activities reached OMR 405.38 million disbursed through 43,936 loans.
The loans were granted as part of the bank's efforts to support economic and social development in the Sultanate; to finance the national investments in high value-added production and service sectors; to achieve self-sufficiency of products, goods, and services; and accommodate national cadres in many professions and trades.
ODB statistics show that the number of loans granted to the agriculture and livestock sector reached OMR57.51 million. In the fisheries sector, the number of loans granted by the bank from 2009 to mid-2018 was 17,894 and was worth OMR68.69 million.
The number of loans granted by the bank for educational services reached 744 projects, worth OMR22.75 million. The number of loans disbursed for the health services sector amounted to 263 projects, worth OMR10.78 million.
In the tourism services sector, the number of tourism projects funded by ODB reached 570, which was worth OMR51.09 million. The total number of projects financed by the bank for professional services reached 4,212 projects, worth OMR33.29 million.
In the industry sector, as many as 10,396 projects were issued loans worth OMR157.23 million. In the mining sector, 17 projects worth OMR4.05 million, were financed by the bank.