Feb 13 2012 |
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MoCI launches trial of SME loan-guarantee programme
By Gulam Ali Khan Small and medium enterprises (SMEs) in Oman are to receive support from the Ministry of Commerce and Industry ( MoCI ), which has initiated the trial of its SME loan-guarantee programme. The ministry also announced that its National Business Centre (NBC) is anticipated to open by April.The MoCI programme, which was launched on October 31 last year, will initially give out loan guarantees to 50 small and medium companies during the trial period.
Speaking to Muscat Daily, Sheikh Salah al Mawali, director general for the directorate general of SME development at MoCI , said the ministry has already forwarded a number of applications to supporting banks - BankMuscat, Oman Arab Bank and Oman Development Bank - for evaluation.
The SME loan guarantee programme was launched recently in an effort to bridge the gap between banks and the growing number of young Omani entrepreneurs.
Mawali said the NBC will provide credit counselling, entrepreneurship training and business incubator services to SMEs.
© Muscat Daily 2012
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