In a significant development, the Saudi Fund for Development (SFD) has inked a crucial development finance agreement with the Oman Development Bank. The agreement, valued at an impressive $53.33 million, is a part of the generous $150 million support program extended by the Government of Saudi Arabia through the SFD to Oman. This agreement marks a significant milestone in bilateral relations between the two nations, further strengthening their economic ties.
In a significant development, the Saudi-Omani joint committee for the management of the program to support small and medium enterprises (SMEs) in Oman witnessed the signing of an agreement with a prominent bank. The co-chairs of the committee, Saeed al-Qahtani, representing the Saudi Fund for Development (SFD), and Zahir Al-Abri, along with the Acting CEO of the Oman Development Bank, Hamad Al Harthy, represented the Omani side during the signing ceremony. This agreement marks a crucial step forward in bolstering the support provided to SMEs in Oman, highlighting the commitment of both nations to fostering economic growth and development.
In a bid to bolster the efforts of the Oman Development Bank in facilitating financing for small and medium-sized enterprises (SMEs), a groundbreaking agreement has been reached. The primary objective of this agreement is to foster social and economic progress while simultaneously generating employment opportunities across multiple states and governorates within the Sultanate of Oman. The Oman Development Bank, a prominent government entity in the Sultanate, plays a crucial role in providing financing facilities for micro, small, and medium enterprises.
