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
China's dominance worries Nigeria's textile traders
ONTC signs pact with Dutch firm to purchase 40 low-floor buses
Oman refinery firm borrows OMR350m from local, Gulf banks
Oman's Bank Sohar launches $250 million three-year debut loan
Oman: More than 150 companies set to participate in Sohar exhibition
TOP RATED ARTICLES
Expect water disruption in several parts of Muscat: Oman’s Public Authority for Electricity and Water
Times News Service
Students caught smuggling drugs into UAE from Oman, Dubai court told
Times News Service
Omani students win international prize in US
Squash spreading its wings in Oman
Oman's Takatuf scholars recogised for their achievements
More in News
How spoilt is your child?
Rachel Carlyle/Daily Express
How to fall back to sleep in 20 minutes or less
Kim Jones/Daily Express
American travel, reportage photographer goes off his track in Oman
Whale sharks set for tagging to save species
Lewis Smith/The Independent
Sri Lanka restores blood-soaked railway to Tamil heartland
More in Features
Why Britain resigned as the global power?
Canada’s support to Israel is dangerous
The green superpower
Touching story of a child that our society rejected
Story of this birth won't top the news for long
More in Columns
Muscat Media Group.
Times of Oman is not responsible for the content of external internet sites.
For reprint rights contact:
TOO Online Editorial