ODB finances 988 projects in Dakhiliyah worth RO 4.7m

NIZWA: Oman Development Bank (ODB), Nizwa branch, has financed more than 988 development projects in the production and service sectors in the Governorate of Al Dakhiliyah, with a total of RO 4,721242 million. The bank focuses on financing projects that will help the biggest number of entrepreneurs.
The projects have many facilitations and development advantages that are aimed at giving youth a chance to run their projects with encouraging incentives, such as lending at subsidised interest, with a year as grace period and flexible repayment period of up to seven years.
In a meeting organised by Oman Chamber of Commerce and Industry, Nizwa, entitled ‘Sustainable Development’, the bank reviewed various projects that it financed in the Governorate of Al Dakhiliyah.
The meeting was attended by bank officials, investors, members of Nizwa branch of OCCI, entrepreneurs from the productive and service projects with a majority of nationals.
Saeed bin Musallam Ambusaidi, an employee in Nizwa branch of ODB, presented a paper identifying the bank’s financial services and the most prominent bank products for clients.
He pointed out that the bank aims at subsidising fruitful development projects to encourage the economic growth in the governorate. It also provides loans with interest of no more than 3 per cent for young investors.
He also reviewed the economic and investment opportunities in the Governorate of Al Dakhiliyah, invited the job-seekers to be entrepreneurs and establish development projects that shall provide them and other Omani youth jobs and open new horizons in the small and medium enterprises sector in the Sultanate, especially as these projects rely on innovation and have an added value leading to sustainable development and achieving desired returns for entrepreneurs.
He said that ODB’s doors are open for projects that serve the government schemes aimed at economic diversity and opening up opportunities for youth.
The projects, financed by ODB in the Governorate of Al Dakhiliyah, included all projects that complement the sectors supported by the ninth five-year plan, which mainly aims at economic diversity.