12 May 2014
MUSCAT -- The total loan schemes approved by Oman Development Bank (ODB) in the first quarter in 2014 (January 1-March 31) amounted to 1,271, with a total worth of RO 9.744 million. The loans, provided to a variety of projects at different economic activities and distributed in the governorates of the Sultanate, come in line with the efforts exerted by the bank to support the developmental projects that absorb the national labour. Agriculture, fisheries and livestock economic sectors seized the biggest share of the loans approved, in terms of number (864 projects were funded) and worth RO 4 million or 68 per cent. This reflects the attention attached by the bank to the productive sectors that have the ability to create alternative sources of income.
MUSCAT -- The total loan schemes approved by Oman Development Bank (ODB) in the first quarter in 2014 (January 1-March 31) amounted to 1,271, with a total worth of RO 9.744 million. The loans, provided to a variety of projects at different economic activities and distributed in the governorates of the Sultanate, come in line with the efforts exerted by the bank to support the developmental projects that absorb the national labour. Agriculture, fisheries and livestock economic sectors seized the biggest share of the loans approved, in terms of number (864 projects were funded) and worth RO 4 million or 68 per cent. This reflects the attention attached by the bank to the productive sectors that have the ability to create alternative sources of income.
Industry sector seized 35 per cent of the total worth of loans approved by ODB. Governorate of Al Sharqiyah seized the biggest number of total loans granted by ODB by 450 loans; followed by the Governorate of Al Batinah 311 loans. The loans granted by ODB to projects at Al Sharqiyah availed more than 900 new jobs for national labour, based on the fact that every new project avails two new jobs. The loans approved to the junior investors in the first quarter of 2014 amounted to RO 8.3 million; or 43 per cent of the total worth granted by ODB, while the medium-size and big-size loans formed 29 per cent of the total worth.
© Oman Daily Observer 2014
