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Two loan agreements worth RO 150m signed with AFESD


MUSCAT: The Government of the Sultanate, represented by the Ministry of Finance, and the Arab Fund for Economic and Social Development (AFESD), on Monday signed two loan agreements, worth of RO 150 million, for financing development projects in the Sultanate.

The two agreements were signed by Darwish bin Ismaeel al Balushi, Minister Responsible for Financial Affairs, and Abdullatif Yousef al Hamad, Chairman, Director-General of the AFESD.

The first agreement, worth of RO 89, will be utilised in financing part of the project for enhancing the water pipelines in the Governorate of Al Batinah (from Suhar to Barka). The funding represents 70 per cent of the total cost of the project (RO 127 million).

The project will meet the growing demand for potable water and the growing future needs of the governorates of North Al Batinah and South Al Batinah. The water pipeline will be extended from Barka water desalination and Suhar water desalination plants, which are almost complete. The 140-km water pipelines will reduce water service interruption in both governorates and will provide drinking water for the people. It will also meet the needs of the industrial, tourism projects and public utilities in both governorates.

The second agreement, worth RO 61 million, will be utilised in financing the improvement and expansion of the 3rd and 4th parts of Sinaw-Mahout-Duqm road. The funding represents 70 per cent of the total cost of the project (RO 86.8 million).

The project would improve land transport services at the main interchanges in the road network, meet the needs of growing transport activity, reduce traffic accidents and enhance the socioeconomic growth.

The project includes a parallel road to the existing road, in addition to improving and expanding the 129-km long road between Sinaw-Mahout-Duqm.

The road consists of two lanes, each 3.75-metre wide, with 2.5 metre-wide side shoulders in each

direction. — ONA

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