Oman Development Bank, Buraimi branch, revealed that it financed a total of 1,389 projects, since 2009 until the third quarter of 2017, in several sectors with a total amount of RO9.67 million ($25.12 million), said a report.
The bank financed projects in the agriculture, livestock, tourism, industry, education, and health sectors, added the Oman Daily Observer report.
This is part of the bank’s funding for developmental projects to achieve self-sufficiency in national products, increase diversity in income by encouraging investors to finance production and service fields that has added value, and provide job opportunities for national manpower, it said.
The statistics were revealed during a promotional event held by the bank in Buraimi, where some successful projects that benefitted from the bank’s support were reviewed in the presence of researchers, entrepreneurs, and students, it added.
The bank extended loans for 436 projects in agriculture and livestock sector with a total amount of RO2.61 million ($6.79 million).
This was 32 per cent of the total number of loans provided by the bank. However, the number of projects funded by the bank in industrial sector reached 644 projects, which was 46 per cent of the total number of loans provided by the bank, with a total amount of RO3.94 million ($10.24 million).
Moreover, the number of tourism and professional projects funded by the bank in Buraimi reached 296 projects, which was 21 per cent of the total number of loans, with a total amount of RO2.88 million ($7.49 million).
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