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 , 8 : 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
As oil prices plunge, GCC braces for ‘tough times’
Facebook sees further drop in usage among teenagers
Samsung plans to hike dividend by as much as 50 per cent
EU policy makers agree on new ‘investment package’
US mulls ‘proportional’ response to Sony hacking attack
TOP RATED ARTICLES
Back-breaking bags a bane for schoolchildren in Oman
HM The Sultan condoles Pakistani President
Cricket: New Zealand beat Pakistan in fourth One-day International, level series
Peshawar attack: Oman, Indians express solidarity with Pakistani community
Times News Service, ONA
Peshawar attack: Prayers held in Oman for Pakistan terror victims
Times News Service
More in News
Sri Lanka restores blood-soaked railway to Tamil heartland
Bucharest 'khans' reborn after decades of neglect
More than just a moustache - Adolf Hitler vs Charlie Chaplin
Urban gardens greening Berlin rooftops, airfield
Tips for writing a good article
More in Features
Confronting an ugly killer
CIA pursued the wrong targets
Driving Ukrainians into Putin’s arms
Humanitarian impact of nuclear weapons in focus
Food security: A lot achieved and scope to do a lot more
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