ODB disburses loans worth OMR5.46mn

Muscat: Oman Development Bank (ODB) disbursed loans worth OMR5.46 million for the tourism sector in 47 loans through the bank's branch in South Al Sharqiyah between 2009 and November 2018.
This was aimed at boosting private sector investments in the tourism sector and was announced at a symposium organised by the branch of the bank held under the auspices of Sheikh Hamad bin Mohammed Bahwan Al Mukhaini, Member of the State Council, at the Sur branch of the Oman Chamber of Commerce and Industry (OCCI) on Monday.
Mohammed Al Mukhaini, Director of ODB’s South Al Sharqiyah branch, said that the bank gave huge importance to the tourism sector, as well as other productive economic sectors and value added services, which contribute to enriching investments.
He also said that the symposium was organised by the ODB in cooperation with the Ministry of Tourism and the OCCI’s Sur branch to highlight the tourism potential in the governorate. It was also meant to encourage investors to take advantage of the available opportunities and the support given to tourism projects by all the authorities concerned.
He added that the symposium saw the participation of various tourism sector organisations, whether licenced, supervising or supporting this sector. It was aimed at accelerating investments in various tourism projects in the governorate.
He pointed out that recently, the ODB had financed 13 hotel apartments, eight hotels and resorts, three camps, four restaurants, two tourist inns, four urban entertainment activities and others. The bank has been providing loans for the tourism sector, as well as other economic, productive and service sectors.
Khalifa bin Mubarak Al Farsi, Head of Investors Services and Quality Management in the Department of Tourism of the South Al Sharqiyah Governorate, gave a presentation on the investment opportunities in the tourism sector and the incentives granted for it.
He also spoke about the tourism products of the Ministry of Tourism and explained the procedures that needed to be followed for obtaining approvals and licences.