Friday, March 29, 2024 | Ramadan 18, 1445 H
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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Al Rafd Fund raises funding limit, priority for unemployed

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MUSCAT: The Al Rafd Fund has decided to launch the second package of funding programmes during the second half of this year. The fund affirmed that the priority will be given to young Omani job-seekers. The Board of Directors of Al Rafd Fund held its first meeting this year under the chair of Dr Ali bin Masoud al Sunaidy, Minister of Commerce and Industry and Board Chairman at Wadi Sharm Resort in the Wilayat of Mahdha. The meeting reviewed the second package of funding programme which involved new conditions for the small and medium industrial projects and for which a funding ceiling of RO 200,000 was agreed. Tourism projects will receive up to RO 150,000 in a bid to encourage job-seekers to set up tourism businesses. On the meeting sidelines, the board members visited the Al Rafd Fund’s branch in the Governorate of Al Buraimi and reviewed the work and the registered results regarding the project finance where 40 projects were received total finance exceeding RO 1.3 million with a repayment rate reaching 93 per cent.


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