ODB funds 681 educational institutions with RO 21 million

The Oman Development Bank (ODB) financed more than 681 private educational institutions between 2009 and 2018 with a total value of RO 20.796 million, as part of its efforts for educational development in the Sultanate and to promote investment in the private education sector, and support the government in the development of the education sector in everywhere in the Sultanate.
The bank showcased its efforts in the education sector which it is making in all governorates of the Sultanate by participating in the private schools’ exhibition and forum held from between February 12-14, 2018, under the auspices of Directorate General of Private Schools of the Ministry of Education.
The ODB has financed 114 educational projects in 2017 projects with a total value of RO 3.732 compared with 131 in the year 2016 with a total cost of RO 3.720 million. The educational projects financed by the bank in the year 2015 were 79 with a total value of 2.791 million, and in 2014 it financed 71 projects with RO 1.061 million. In 2013, it supported 67 projects with an amount of RO 2.735 million compared with 64 projects with RO 2.429 million in 2012. The number of projects financed by the ODB in 2011 was 55 with a total value of more than RO 817,936 and 2010, it funded 48 projects with more than RO 3.249 million compared with just 46 projects in 2009.
The educational activities financed by the ODB were varied. The number of educational projects for the secondary schools reached 94 which was 13.8 per cent of the total projects financed at cost of RO 8.160 million which is 39.2 per cent of the total cost of the education sector in the country.
The number of projects funded in the technical and vocational education sector below the level of higher education was just one which was financed at a cost of RO 100 thousand, while the number of colleges financed by the ODB were about 8 private colleges which is 1.2 per cent of the total number of projects at a total cost of RO 7.500 million. This is about 36.1 per cent of the total cost in the education sector.
In addition, there were about 17 projects at a total cost of RO 476,000. The project included 13 projects related to educational support activities at a total cost of RO 65,743.
The bank also financed three projects for the development of mental skills at a cost of RO 15,000, and 45 kindergartens with RO 345,100. These are in addition to eight Quranic schools which were financed with a value of RO 53,793. The bank also financed more than 38 vocational training centres with a cost of about RO 1.832 million and three management training institutes and human resources development centres with a cost of RO 55,300. It also financed a language and computer learning institute with an amount of RO 3,000.
The loans granted by the ODB for the development of the education sector were distributed to all governorates of the Sultanate. The bank provided 290 loans in Muscat governorate at a total cost of RO 9.774 and ten loans in Dhofar governorate with a total RO 491,971. The total number of loans granted by the bank in North Batinah governorate was 74 with a total cost of RO 2.325 and 123 loans with RO 696,743 in South Batinah governorate.
It also gave 31 loans in Al Dhahirah governorate worth RO 360,837. In Al Dakhiliyah governorate it gave around 53 loans which costed RO 575,721. It gave just one loan worth RO 15,000 in Al Wusta governorate, four loans worth RO 30,000 in Musandam and 12 loans in Al Buraimi governorate worth RO 3.474 million. The number of educational projects which was funded by the ODB in the North Sharqiyah governorate was around 53 which costed it RO 689,054, and 30 projects in South Sharqiyah with RO 389,860.