The Saudi Fund for Development (SFD) in Oman today signed a development finance agreement with the Oman Development Bank worth $53.33 million as part of the $150-million support program provided by the Government of Saudi Arabia through the SFD for Oman.
The agreement was signed with the bank by the co-chairs of the Saudi-Omani joint committee for the management of the program to support small and medium enterprises (SMEs) in Oman, where Saeed al-Qahtani represented the SFD from the Saudi side, and Zahir Al-Abri and Acting CEO of the Oman Development Bank Hamad Al Harthy represented the Omani side.
The agreement aims to support the initiatives of the Oman Development Bank in the financing activities of SMEs, enhance social and economic growth, and create jobs in various states and governorates of Oman. The Oman Development Bank is one of Oman’s most prominent government entities that provides financing facilities for micro, small, and medium enterprises in the Sultanate.
Source: Saudi Press Agency