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KHASAB, OMAN - MAY 18: Tourists snorkelling in telegraph island, Musandam Governorate, Khasab, Oman on May 18, 2018 in Khasab, Oman. (Photo by Eric Lafforgue/Art In All Of Us/Corbis via Getty Images). Image used for illustrative purpose. Getty Images
The OPEC Fund for International Development (OPEC Fund) has signed a $212 million loan agreement with Oman to finance the Khasab-Daba-Lima Road Project (Sultan Faisal bin Turki Road) in the Musandam Governorate.
The agreement constitutes the second tranche of a total approved loan of $392 million for the project. In October 2024, the Fund had signed a $180 million loan agreement as first tranche in support of the project.
The Khasab-Daba-Lima Road Project comprises a two-lane single carriageway asphalt road, spanning approximately 70 km, between the cities of Khasab, Daba, and Lima, facilitating better access to markets and ensuring safer transport of goods and people.
(Writing by P Deol; Editing by Anoop Menon)
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