Signing two loan agreements between the Sultanate of Oman and the Arab Fund for Economic Development

Media In-Agencies 24-12 -2018
The Government of the Sultanate of Oman, represented by the Ministry of Finance and the Arab Fund for Economic and Social Development, today signed two loan agreements amounting to RO 150 million to finance a number of development projects in the Sultanate of Oman.
The two agreements were signed on behalf of the Government of the Sultanate of Oman by Minister of Finance Darwish bin Ismail Al Baloushi and signed on behalf of the Arab Fund for Economic and Social Development by the Director General of the Fund Abdul Latif Yousef Al-Hamad.
The first loan agreement of RO 89 million aims to finance part of the project to strengthen water transport lines in Al Batinah (from Sohar to Barka), representing 70% of the total cost of the project, amounting to RO 127 million.
The other loan agreement amounting to RO 61 million aims to contribute to the financing of the third and fourth parts improvement and expansion project through Snaw / Mahout / Duqm, representing 70% of the total project cost of RO 86.8 million.