Times of Oman
Price in RO
24ct / gm
22ct / gm
Forex Rates vs R01
Back to Homepage
Oman signs OMR77m loan agreement with Arab fund
April 09, 2014 , 7 : 39 pm GST
SAVE THIS ARTICLE
A view of Oman Housing Bank. - File photo
Oman Housing Bank (OHB) has signed an agreement with the Arab Fund for Economic and Social Development (AFESD) for a loan facility of OMR55 million to partly meet the annual loan programmes provided by the housing bank.
The agreement was signed on the sidelines of the joint annual meetings of the Arab financial institutions and corporations held here. The agreement was signed by Darwish bin Ismael Al Balushi, minister responsible for financial affairs and chairman of OHB board and Abdulatif Yousef AlHamad, general manger and chairman of the fund.
The loan will be repaid in 37 bimonthly installments after four-year grace period from the date of disbursing the first portion of the loan. The loan term is 23 years.
The minister also signed two agreements with the Arab fund. The first agreement was to provide a government guarantee for the repayment of the loan availed to OHB.
As per the second agreement, the Public Establishment for Industrial Estates will obtain OMR21.9 million to finance part of the costs of the infrastructure projects in Sumail Industrial Zone. The loan, which has a term of 21 years, aims at developing the industrial sector and providing small and medium enterprises with their needs.
Rate this Article
Rates : 0, Average : 0
Post a Comment
Did you like this section? Leave a comment!
Your Name :
Your Email Address :
Your Comment :
Enter Image Text:
No Comments Posted
Latest in this section
No plans to cut expenditure next year, says ministry undersecretary
Global companies eye slice of Oman’s infrastructure pie
Oil & Gas sector plays key role in Oman’s economy
National Business Centre inks pacts to aid start-ups
Oman Oil eyes Occidental’s local assets
TOP RATED ARTICLES
Omani women’s literacy rate grows more than 10 per cent
Times News Service
Two-year visa ban ‘hits hiring of skilled personnel’
Now, access Omani history online
Pistorius sentenced to five-year jail for killing his girl friend
Cooking classes to offer tourists a cultural link to Oman
More in News
Sri Lanka restores blood-soaked railway to Tamil heartland
It's Different! Discovering pop legend Michael Jackson's popularity in rural India
Bucharest 'khans' reborn after decades of neglect
More than just a moustache - Adolf Hitler vs Charlie Chaplin
Urban gardens greening Berlin rooftops, airfield
More in Features
Isil poses a direct threat to Turkey’s national security
How PPP is still sinning against Sindh
Muslim Brotherhood courts Isis for support
What does Hashmi’s loss portend for 3-way battle?
Conspiracy theories are afoot in plenty
More in Columns
Copyright © 2012 Muscat Press & Publishing House SAOC. All rights reserved. Times of Oman is not responsible for the content of external internet sites.
For reprint rights contact:
TOO Online Editorial